This year’s back-to-school spending to hit record high

With classes about to begin, this year’s back-to-school spending is expected to reach a record $41.5 billion, per the National Retail Federation (NRF).

The numbers were $36.9 billion and $3.71 billion in 2022 and 2021. The NRF predicts overall consumer spending will surpass $135 billion this year, a $24 billion hike from last year.

Some experts say 2023 could be the most expensive back-to-school and college shopping season to date. Their advice for parents and families looking to save money on school supplies is to wait until Labor Day or October and November to get great deals on excess inventory.

What are people buying?
Jorts and clear backpacks are the most sought-after last-minute buys.

The jorts (short for jean shorts) are popular thanks to the record-high temperatures in the country, while see-through backpacks are mandatory in some schools due to security concerns over children carrying guns.

Electronic items like laptops and computer accessories are also selling like hotcakes.