State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.
Parents, rejoice! The blistering heat wave is over, the Packers are back in uniform, and most importantly, children everywhere will soon return to school. It’s time once again for bag lunches, big yellow buses, and after school sports.
Before students are back in the classroom, most parents will once again open their wallets so their children have needed items to succeed in school. How much does this annual spending spree affect the economy? The National Retail Federation (NRF) provides some interesting statistics.
This year, parents of K-12 students are expected to spend around $688 on back to school supplies, while empty-nesters supporting college students will contribute $907. Each of those figures is up considerably from last year’s figures of $603 and $808, respectively.
In total, the NRF estimates this year’s back-to-school and back-to-college spending will each top $30 billion, for a total of $64 billion in economic activity. Not surprisingly, K-12 parents end up spending the largest portion on clothing, while back-to-college budgets are most heavily weighed down by electronics expenses such as laptops and tablets. In total, back-to-school and back-to-college households will spend an estimated $23 billion on electronics.
For those already having a laptop, there is a good chance it will be used to do some school shopping. Close to 40 percent of people will look to cyberspace to shop for the latest trends and hottest deals. Last year, that number was only 31 percent.
Be mindful, however. Although online shopping has its merits, you may end up buying more. According to the NRF, the average online shopper will spend 27 percent more than a regular shopper.
Maybe that is the reason a majority of people go to traditional brick and mortar stores for back to school supplies. In addition to having great deals, local stores often offer simpler return policies. When one is dealing with oft fussy kids, this can be an important advantage. In all, 60 percent of back-to-school shoppers will go to department stores, 52 percent will go to a clothing store, and close to two-thirds will look for deals at a discount store.
Regardless of the vendor, back-to-school shopping is a way to make kids excited for school and ready to learn. It’s also a critical boost to our economy. Find a great deal today!