Consumers budget to prepare for back-to-school shopping
KPMG polled more than 1,000 consumers across the United States to learn about their expected spending habits for the year, as well as shifts in buying behaviors across categories and channels. We asked respondents about their back-to-school (BTS) shopping habits and predictions, as well as the impact of inflation on cost of living.
With inflation still top of mind for consumers, back-to-school shoppers predict they will spend 21 percent more per student this shopping season than they did in 2022.
Expected change in back-to-school spend
Over 50 percent of BTS shoppers plan to spend more per student on back-to-school in 2023 versus 2022, primarily due to the expectation of rising prices (82 percent). Nearly 50 percent of BTS shoppers who expect to spend less report that they have less monthly budget to spend on school supplies.
Over 50 percent of BTS shoppers plan to spend more per student on back-to-school in 2023 versus 2022, primarily due to the expectation of rising prices (82 percent). Nearly 50 percent of BTS shoppers who expect to spend less report that they have less monthly budget to spend on school supplies.
Footwear, supplies, and apparel continue to hold top spots
Consistent with their 2021 and 2022 share of wallet estimates, BTS shoppers expect apparel, core school supplies, and footwear to be their largest BTS spend categories in 2023, driving a combined 56 percent of spend.
Consistent with their 2021 and 2022 share of wallet estimates, BTS shoppers expect apparel, core school supplies, and footwear to be their largest BTS spend categories in 2023, driving a combined 56 percent of spend.
Purchasing behavior will shift…
BTS apparel shoppers have seen price increases in the apparel category and 74 percent of them plan to change their purchasing behaviors to mitigate price increases, nearly 50 percent of whom plan to buy fewer items.
BTS apparel shoppers have seen price increases in the apparel category and 74 percent of them plan to change their purchasing behaviors to mitigate price increases, nearly 50 percent of whom plan to buy fewer items.
Consumer pulse survey 2023 | Back-to-school
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