It is no secret that seasonality plays a big role in retail. The weeks leading up to Christmas are the most important time of the year for most retailers in the United States as consumers stock up for the holidays and spend a lot of money on gifts for their loved ones. But did you know that we are currently in the middle of the second largest seasonal event for retailers in the U.S.?
As (college) students prepare to return to their schools after the summer, they and their families spend billions on school material, electronics and clothing year after year. According to the National Retail Federation
, back-to-school shoppers will spend $26.2 billion this year with back-to-college
shoppers adding another $54.5 billion. With total spending exceeding $80 billion, back-to-school/college season is harder on Americans’ credit cards than Mother’s Day, Easter and Valentine’s Day combined.