Back-to-school spending by U.S. parents will increase by 21.8% in 2024, with Walmart and other platforms being the top choices

It is learned that recently, according to the latest survey conducted by JLL in May of 1,026 American parents, parents' back-to-school spending in 2024 is expected to increase by 21.8% compared with 2023, and the spending per child will increase from US$390 last year to US$475.

The survey found that consumers plan to buy back-to-school essentials at the same major retailers as in 2023, but the percentages have shifted. In 2023, shoppers buy back-to-school supplies at Walmart (58.6%), Target (54.2%) and Amazon (46%).

This year, the majority of parents plan to shop at Walmart (46.4%), Amazon (35.4%) and Target (32.6%), while fewer are choosing to buy at other large retailers such as Costco (6.5%), Old Navy (3.8%) and Dollar General (2.8%).

About a quarter of the respondents said they have already started back-to-school shopping, with 22.1% of parents starting shopping in June, while 20% and 16.8% will start shopping in July and August respectively.

Parents across all income brackets plan to increase back-to-school spending compared to last year, with higher-income families (those making more than $150,000) seeing the largest budget increases. Additionally, despite concerns about inflation, parents making more than $50,000 are not planning to cut their budgets.

Lower-income parents (those making less than $50,000) are likely to cut budgets and look for sales, coupons and deals, and will start shopping in July or August. Higher-income parents will start shopping in early June and choose to buy store-brand products to save money.

This year, as consumers make their back-to-school shopping lists, major retailers are also launching summer sales. Amazon will hold its Prime Day promotion from July 16 to July 17. Target, Walmart, Best Buy and Kohl's will also usher in a wave of sales.

Author✎ Summer/
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