Consumers Feel Budget Pinch As Back-To-School Looms
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Many U.S. households are feeling the pressure of incomes that haven’t kept up with inflation, which this year has fallen from the 40-year high of 2022. Spending plans for the back-to-school season reflect that uneasiness.
Parents surveyed plan to spend $586 a child on school items this season, down $11 from 2023, according to a survey by consulting firm Deloitte. Amid this flattish outlook, the overall BTS market spend this year will be “relatively steady” at $31.3 billion, compared with $31.9 billion in 2023, the firm said.
