According to a survey by Jones Lang LaSalle (JLL), American parents' spending during this year's back-to-school season will increase by 15.7% compared to last year, which is much higher than the inflation rate (a year-on-year increase of 4.9%). The study shows that under high inflation, 55.2% of parents will increase their budget to buy the same amount of items as last year. Similar to last year, large retailers such as Walmart (58.6%), Target (54.2%) and Amazon (46%) remain the top destinations for American parents to shop for back-to-school items. Other retailers in the top ten include Old Navy, Kohl's, Staples, Macy's, Office Depot, Costco and Dollar General. The 2023 Back-to-School Shopping Report from JLL also found that American parents will shop early. More than 60% of parents will start shopping in July, but the most popular month is still August. American parents want retailers to deliver items in a shorter time. The report pointed out that 24% of parents prioritize free shipping over fees when deciding where to shop online. (Since the outbreak, the proportion of American parents who ordered school supplies for their children online has soared by more than 21%.) It is worth noting that 24.1% of parents said they would choose to shop at retailers that offer free shipping. Most parents will buy stationery and clothing. Clothing and stationery are the top items American parents will buy for the back-to-school season this year. Accessories such as backpacks and lunch bags are the third most popular items. In addition, more than 30% of parents plan to buy home office and art and craft supplies. With high inflation, more than half of parents will look for deals. The survey shows that 69.5% of American parents will look for promotions and deals to save money this year. Fewer parents said that inflation will affect their back-to-school shopping expenses. “After adjusting their spending plans last year, U.S. parents are taking a different approach this year — with most increasing spending despite inflation concerns,” said Naveen Jaggi, president of JLL’s Retail Advisory Services. “Our survey shows that parents are making significant investments in back-to-school essentials, which not only supports their children’s educational journey but also plays a key role in driving consumer spending.” Naveen Jaggi added: “Consumers will be looking for promotions, deals and other ways to save money this back-to-school shopping season. They want to maximize the value of their spending, especially in a challenging economic environment. Retailers that offer discounts are particularly attractive to consumers.” JLL Retail Research conducted an online survey of more than 1,000 U.S. parents of school-age children in late May to find out how they plan to shop and spend during the back-to-school season. Editor ✎ Nicole/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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