Back-to-school spending is expected to decline by 10% in 2023, to $597 per child from $661 in 2022, according to a Deloitte’s 2023 back-to-school survey. To pocket sales early, many retailers launched big back-to-school (BTS) sales in July to compete with Amazon Prime Day. Cramming lesson: Retailers can create parent-appealing nostalgia in their displays, or borrow nostalgia from partner enterprises. Cramming lesson: By promoting reduced spending requirements for free shipping late in the season (“Last-minute offer! In October (when kids are still asking for new back-to-school clothes), retailers will likely review their notes from this year’s playbook.

Source: Forbes October 27, 2023 22:07 UTC