Shopping
Data Drop: 5 Charts on 2024 Back-to-School Shopping
With the second-highest shopping volume of the year, the back-to-school season gives many retailers and brands an infusion of sales. It also offers a glimpse into the consumer mindset ahead of the ever-important holiday shopping season. This year, though, back-to-school growth will be harder to come by, with a slowdown in sales for college-bound students and plateauing growth rates in physical retail stores.
Back-to-school season sales in 2024 will grow at their slowest rate in five years
Sales surged in the 2021 back-to-school season as students returned to in-person classes after the COVID-19 pandemic, and growth has outpaced total retail sales in each year since. This year, back-to-school will generate sales of more than $81 billion. However, the gap between growth for back-to-school sales and total retail sales is narrowing, as back-to-school shopping slows.
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