Parents expect to spend about $661 per student this year, with K-12 back-to-school spending expected to reach a high of $34.4 billion.
Back-to-school spending for children heading to kindergarten through grade 12 is expected to reach a high of $34.4 billion, according to the latest Deloitte back-to-school study, with spending on mental wellness forecast to grow 8%.“Following the uncertain social landscape of the past several years, many K-12 parents are focused on their child’s overall mental wellness,” Deloitte said in its announcement.
See: Supply-chain problems persist heading toward the back-to-school season, and the solutions give rise to a new set of risks “This may lead to trust and brand loyalty issues for retailers, as 64% of survey respondents believe retailers are profiting from inflation, while three-quarters will trade brands if prices are too high,” said Rod Sides, Deloitte Insights leader, in a statement sent to MarketWatch.
A separate KPMG back-to-school study found that supply chain issues are also top-of-mind for parents, with nearly half of respondents to their survey at least moderately concerned about inventory shortages, and half of those respondents planning to start their shopping earlier to try and avoid any problems.
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