US back-to-school spending to remain muted in 2024, Deloitte says
By Anuja Bharat Mistry and Ananya Mariam Rajesh
July 15 (Reuters) -Back-to-school spending this year is expected to be flat or lower in the United States, as shoppers dial down on expensive electronics such as laptops and personal computers, Deloitte said.
Shoppers are likely to spend $31.30 billion, or about $586 per student, in kindergarten to 12th grade, Deloitte said, citing its shopper surveys. That compares to $31.90 billion, or $597 per head, for 2023, it said.
WHY IT'S IMPORTANT
Parents typically look for large discounts on sneakers, computers, clothing and backpacks ahead of the new school year. Walmart WMT.N, Target TGT.N and China-founded Shein commenced back-to-school deals in the first week of July, earlier than usual, to get a jump on Amazon AMZN.O, which will hold a two-day Prime Day event on July 16 and 17.
KEY QUOTE
Middle-income families are focusing more on value and willing to shop for private label, said Stephen Rogers, managing director, Deloitte Insights Consumer Industry Center.
"As the summer sales events have become almost the unofficial start of back to school shopping, retailers need to have those promotional offers ... queued up right, ready to go," Rogers said.
Retailers and consumer products companies can expect to see a continued volume pressure right in the back-to-school quarter, he added.
BY THE NUMBERS
About 67% of parents surveyed may sacrifice loyalty if the preferred brand is too expensive, Deloitte said. The survey polled a sample of 1,198 American parents of school-aged children.
Shoppers are likely to spend $12.60 billion on clothing and school supplies, roughly on a par with what they spent in 2023, and $8.6 billion on technology products, down 11% from a year earlier.
Middle-income families making between $50,000 and $99,000 in a year are expected to cut their spending by 9%, while low-income families making less than $50,000 could slash their spending by 4% in 2024.
Meanwhile, higher-income families whose annual incomes exceed $100,000 are expected to see a 5% rise in average spending to $721 per child, compared with $689 a year ago, Deloitte noted in the report.
GRAPHIC
Expected category spend during back-to-school season 2024 https://reut.rs/4cUO7Es
Reporting by Anuja Bharat Mistry and Ananya Mariam Rajesh in Bengaluru; Editing by Shreya Biswas
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
