Back-to-school spending persists, PwC survey says
The post Back-to-school spending persists, PwC survey says appeared on BitcoinEthereumNews.com. A variety of school supplies, including lunch boxes and backpacks in different colors and patterns, are on display for the upcoming school year. Deb Cohn-Orbach | UCG | Universal Images Group | Getty Images Families are not holding back on back-to-school spending this year, despite growing economic pressure, according to a new PwC consumer survey. Nearly three-quarters of back-to-school shoppers expect to spend the same amount or more this year than they did in 2024, according to PwC’s survey of nearly 2,000 parents. In fact, more than 1 in 3 parents anticipate spending more than they did last year. “A lot of it is necessities. It’s people knowing that they’re going to have to get this specific book, or these specific supplies for school or they require technology for their kids,” said Kelly Pedersen, PwC’s U.S. retail leader. The results indicate a value-oriented consumer, Pedersen said, but at the same time, back-to-school spending is insulated because “this is just necessary spend every year.” The results come as consumers grapple with an uncertain economic environment due to global trade dynamics. While consumer confidence for May was stronger than expected, spending for the month pulled back sharply. The temporary pauses on some of President Donald Trump’s tariffs have been viewed as a positive indicator for consumers, although the long-term path forward for tariffs remains unclear, especially as some retailers have said they will raise prices. Among the back-to-school shopping destinations, Walmart and Target said they plan to hike some prices, while Best Buy is among the retailers that said it has already raised some prices. “A lot of the average consumers in the U.S. sort of feel this cloud hanging above of, when are the tariffs going to hit, and what are those going to do to prices,” Pedersen said. He said…
The post Back-to-school spending persists, PwC survey says appeared on BitcoinEthereumNews.com.
A variety of school supplies, including lunch boxes and backpacks in different colors and patterns, are on display for the upcoming school year. Deb Cohn-Orbach | UCG | Universal Images Group | Getty Images Families are not holding back on back-to-school spending this year, despite growing economic pressure, according to a new PwC consumer survey. Nearly three-quarters of back-to-school shoppers expect to spend the same amount or more this year than they did in 2024, according to PwC’s survey of nearly 2,000 parents. In fact, more than 1 in 3 parents anticipate spending more than they did last year. “A lot of it is necessities. It’s people knowing that they’re going to have to get this specific book, or these specific supplies for school or they require technology for their kids,” said Kelly Pedersen, PwC’s U.S. retail leader. The results indicate a value-oriented consumer, Pedersen said, but at the same time, back-to-school spending is insulated because “this is just necessary spend every year.” The results come as consumers grapple with an uncertain economic environment due to global trade dynamics. While consumer confidence for May was stronger than expected, spending for the month pulled back sharply. The temporary pauses on some of President Donald Trump’s tariffs have been viewed as a positive indicator for consumers, although the long-term path forward for tariffs remains unclear, especially as some retailers have said they will raise prices. Among the back-to-school shopping destinations, Walmart and Target said they plan to hike some prices, while Best Buy is among the retailers that said it has already raised some prices. “A lot of the average consumers in the U.S. sort of feel this cloud hanging above of, when are the tariffs going to hit, and what are those going to do to prices,” Pedersen said. He said…
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