Get Our Email Newsletter

Back-to-School Shopping Expected to Reach Record Levels

Consumers are expected to spend record amounts for back-to-school and back-to-college shopping this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. Back-to-school spending is expected to reach an unparalleled $41.5 billion, up from $36.9 billion last year and the previous high of $37.1 billion in 2021. Back-to-college spending is expected to hit $94 billion, about $20 billion more than last year’s record.

Matthew Shay
Matthew Shay

“Back-to-class shopping is one of the most important consumer shopping occasions of the year,” said NRF President and CEO Matthew Shay. “Our research for 2023 shows American consumers are eager to jumpstart their back-to-school and college purchases early. Retailers have been preparing for months to ensure they are well stocked with essential items that families and students need for the school year.”

Since 2003, NRF has conducted a comprehensive survey on back-to-class shopping trends. This year’s research included 7,843 consumers and was fielded June 30-July 6 with a margin of error of plus or minus 1.1 percentage points. 

- Digital Partner -

Shopping in preparation for the first day of school is already well underway. As of early July, more than half (55 percent) of consumers who are buying for back-to-class said they have already started shopping. This is on par with last year, but is up from 44 percent in 2019, and is in line with the trend of consumers shopping earlier for major spending events. While consumers have started shopping early, as of early July, 85 percent said they still have at least half of their shopping left to do. 

Families with children in elementary through high school plan to spend an average of $890.07 on back-to-school items this year, approximately $25 more than last year’s record of $864.35 and a new high. 

This increase in expected spending is primarily driven by more demand for electronics, as 69 percent of back-to-school shoppers expect to buy electronics or other computer-related accessories this year, up from 65 percent last year and the highest in the survey’s history. Total spending on electronics is expected to reach a record $15.2 billion. As in past years, the top electronics consumers plan to purchase are laptops (51 percent), tablets (36 percent) and calculators (29 percent).  

College students and their families are expected to spend an average of $1,366.95 per person, up from $1,199.43 last year, and a new record from the previous record of $1,200.32 in 2021. Since 2019, back-to-college spending has nearly doubled.

Forty-three percent of those who are spending more than last year say it is because they need more new items, up from 32 percent last year. Another third (32 percent) attribute it to needing more big-ticket items such as a computer, phone, calculator, or dorm furnishings. Spending on big-ticket items such as electronics and furnishings as well as necessities like food accounts for more than half of the increase in total back-to-college spending this year. 

LP Solutions

For all back-to-class shoppers, the top destinations are online, department stores, and discount stores. 

“Even though consumers plan to spend more on school and college-related items this year, they are still looking to find the best value and deals,” said Prosper Executive Vice President of Strategy Phil Rist. “Consumers are stretching their dollars by comparing prices, considering off-brand, or store-brand items, and are more likely to shop at discount stores than last year.”

Loss Prevention Magazine updates delivered to your inbox

Get the free daily newsletter read by thousands of loss prevention professionals, security, and retail management from the store level to the c-suite.

What's New

Digital Partners

Become a Digital Partner

Violence in the Workplace

Download this 34-page special report from Loss Prevention Magazine about types and frequency of violent incidents, impacts on employees and customers, effectiveness of tools and training, and much more.

Webinars

View All | Sponsor a Webinar

Whitepapers

View All | Submit a Whitepaper

LP Solutions

View All | Submit Your Content

Loss Prevention Media Logo

Stay up-to-date with our free email newsletter

The trusted newsletter for loss prevention professionals, security and retail management. Get the latest news, best practices, technology updates, management tips, career opportunities and more.

No, thank you.

View our privacy policy.