Parents are planning to drop billions of dollars on school necessities despite uncertainty around school reopenings. According to surveys from Deloitte that examined college and K-12 parents, while back-to-school shopping will likely “remain flat” this year, the pandemic will likely boost online sales—with an increase in technology products and a dip in apparel. Parents are also likely to favor retail giants and product deals, and ecommerce shopping is likely to increase over last year. Overall, the report found that parents of college students will spend around $25.4 billion this year on school supplies, while parents of K-12 students are projected to spend $28.1 billion. That said, YPulse’s report on Retail’s New Reality did find that 61% of potential back to school shoppers say they will wait until classes start to buy what they need. (Business Insider)
