MEDIA ALERT: ICSC’s Back-to-School 2023 Consumer Survey Reveals Shoppers’ Intentions to Increase Spending and Hunt for Deals

ATTN:

Retail/Real Estate/Business/Economic Editors and Reporters

WHO:

ICSC

WHAT:

Consumer behavior data for the 2023 back-to-school shopping season

WHEN:

“ICSC’s Back-to-School 2023 survey shows that shoppers plan to spend more on school-related items this year compared to last year. While inflation is a partial driver of higher spending, our data found that the consumer remains resilient, but is certainly focused on deal-hunting for the best prices in the face of rising costs.”

- Tom McGee, President and CEO, ICSC

RESULTS:

• Shoppers will spend an average of $969 during this year’s back-to-school shopping season, an increase from $911 in 2022.
• Nearly half (48%) of adults in the U.S. will buy back-to-school items this year.
• Seventy-five percent of shoppers plan to increase their spending on back-to-school items compared to 2022.
• Of those who plan to increase their spending, 60% say they are doing so as a result of higher prices and inflation, compared to only 43% who said the same in 2022.
• Seven in 10 consumers said they will shop at discount stores (an increase of five percentage points from last year), making it the most popular type of retailer for back-to-school shopping.
• Nearly half (45%) of shoppers are looking to purchase items when they’re on sale due to higher prices and inflation, while 38% plan to buy from brands that are generally cheaper.
• An overwhelming majority (91%) say their back-to-school purchases are influenced by promotions, while nine in 10 say inflation and rising prices will impact their purchases, consistent with 2022 results.
• Nearly three-fourths (72%) of respondents are sticking to a strict budget this year.
• The majority of back-to-school shoppers plan to make their purchases later in the season, with 44% of spending expected to happen in August.
• Electronics will account for the largest portion of expected spending for consumers ($261), though school supplies saw the biggest increase from recent years ($168, up from $137 in 2022). Other top spending categories include apparel ($233), furniture ($205), and sporting goods ($102).