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Back-to-school sales are everywhere and it's got me reminiscing for the days when I was a student. Back in 1994, I was just starting to maneuver my way through high school as a Freshman. Now, 20 years later I have a daughter who's starting Pre-K at a new elementary school. In just 3 weeks time! We haven't received any supplies checklists as of yet, but I know I should pick a few things up. But, what to get? After performing a quick search for 'back-to-school', I came across an appropriate article that highlights the differences in prices from 20 years ago to today. Backpacks, lunch boxes, notebooks. Some of the price differences are staggering. So far I've only purchased a lunch box and it cost $32, which is a few price points above the average listed in the article. Here's a few highlights:
- "Parents can be expected to shell out $10 to $22 dollars for a top notch lunch box. In 1994, a lunch box could cost just $6.22 to $13.68"
- "Depending on quality and need, a notebook can range from $1 to $10 or more. Compare that to 1994, where you could get a notebook for $0.60 or lower."
- "An advanced graphing calculator today can run as high as $130. In the 90's that price would have been $80 at most. "
With all the back-to-school hoopla happening all over the country, we decided to take a look at how consumers were spending during retail's second largest spending event of the year. We found that consumers on average will spend $336.17 and that consumers in the Northeast and Southern parts of the U.S. spend more than their counterparts in the West and Midwest. Stay tuned for our full infographic in which we'll look at where consumers shop, what brands they look for and how they prefer to hear about Back-to-School promotions. For more information on our Back-to-School study and infographic, email us.
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