Back-to-School Shopping Slows in 2024 as Consumers Shift Priorities

[Sanjeev Advani]

In 2024, back-to-school and back-to-college spending has dropped as consumers adopt a more cautious approach following the pandemic surge. The National Retail Federation (NRF) reports declines of 6.5% in back-to-school spending and 7.9% for back-to-college, with shoppers focusing on frugal choices amid rising inflation concerns and an upcoming presidential election.

During the pandemic, families spent more on school supplies and remote learning gear, but priorities have shifted to travel, dining, and entertainment. While overall retail spending is projected to rise 2.5% to 3.5%, consumers are being more strategic with their purchases. Labor Day sales showed shoppers seeking bargains, reflecting heightened concern over inflation and economic uncertainty.