Sales from mid-July to early September are expected to rise 5.5% year over year and 6.7% compared with 2019, according to a forecast by Mastercard SpendingPulse.
The back-to-school season is always about turning over a new leaf, but kids and parents are more eager than ever for a fresh start after the pandemic. That sense will fuel spending, according to a new forecast.
Back-to-school sales in the US are expected to grow 6.7% from 2019 and 5.5% from last year’s Covid days, according to a forecast by Mastercard SpendingPulse. The company uses nonautomotive spending patterns online and in stores to make its projections for the season.
The back-to-school season is typically a major driver for retailers as families buy school supplies, clothes and college dorm decor. This year, however, it will also serve as a barometer for consumer confidence as Covid cases wane in the US and families return to normal routines.