Man, I realized that back to school sales were a big deal, but I had no idea how much people were spending. And just look at the trajectory over the last couple of years. I mean, we’re in the middle of a prolonged economic crisis, and people are increasing their spending by billions! I guess people will spend on education and their kids’ future no matter what the economic climate, perhaps especially when the future doesn’t look so good.
It’s not surprising that electronics make up such a huge portion of the spending, but clothes and shoes are even more. I guess kids grow fast. It’s refreshing to see that the expectation of spending goes down as kids approach graduation. Here’s hoping all those grads find jobs easier than they have been. This is the time when parents do the bulk of their spending. What are you buying for your kids to get them back in gear for school? Have you reduced your spending compared to past years?