With most schools planning a full return to in-person learning this fall, the nation's retailers are ready to reap the benefits.
Bloomberg reports the retail industry expects its biggest back-to-school shopping season in at least five years. According to the latest forecast from Deloitte LLP, spending is expected to top $32 billion. That would be up 16% from last year, and would exceed the 2019 totals by 17%.
And while the need for new school clothing waned last year during pandemic-forced virtual learning, the apparel and accessories sector is poised to make a big comeback. Estimates say it will be up 46% over 2020.
There is a downside for parents in search of those back-to-school items. The combination of higher demand and continuing supply chain issues will make discounts and sales more difficult to find this year.
KRLD's Chris Sommer talked with Bloomberg Correspondent Jordyn Holman.
Related
LISTEN on the Audacy App
Sign Up and Follow NewsRadio 1080 KRLD