Chart of the Day: Phi Beta Capper
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Back-to-college retail will score top marks for spend
US back-to-college retail spending will reach a new high of?$73.9 billion?this year, beating last year’s record of?$71.0 billion?and eclipsing the pre-pandemic figure of?$54.5 billion?in 2019.
Beyond the chart:?Education is still a priority for college students and their families, even amid high inflation. Average spending per household will be roughly the same as it was last year—around?$1,200. Electronics and computer-related equipment will see the biggest increase in back-to-college dollars since before the pandemic, with households shelling out nearly?28%?more this year than in 2019.
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