LANSING - Back-to-school season is slowing approaching, and it's almost time to begin school shopping again.
Many retailers will have a lot of sales and specials going on that kids, parents, and teachers will enjoy. From July 15th to July 21st Target stores gave teachers a 15% off discount on select schools supplies to help them stretch those dollars. On July 27th Michaels gave teachers 20% off their entire purchase.
How does school shopping effect retailers? Bill Hallan, Executive Vice President of the Michigan Retailers Association says, "back-to-school shopping is a $83 billion dollar industry. It is very important for retailers. The last weekend in July is the most popular week to begin shopping for school again". Hallan also added, "retailers that sell clothes, electronics, and other back-to-school supplies will certainly do well during this period".
The Michigan Retail Association also conducts monthly surveys to check the health of the retail industry in Michigan, and they have found in their most recent survey that 62% of retailers expect strong sales through September.
For many years back-to-school shopping has become a tradition for families everywhere. In fact, according to Statista, the average amount spent on back to school shopping in the United States have been $600+ for the past 8 years.
School supplies can range from as little as twenty five cents to as much as $300 dollars depending on what you're shopping for. The most common school supplies according to Statista are paper, notebooks, pencils, clothes, shoes, backpacks, and lunch boxes.
For college students school shopping may seem a little more expensive, but it does not have to be. For example, a smart way to save money on textbooks is to rent them instead of buying them. Many bookstores allow students to rent books at the beginning of the semester, and all you have to do is return them at the end of the semester. This is smarter than paying a lot of money for a textbook you will most likely will never use again, and letting it just take up space in your closet.