You may already be planning your upcoming holiday season sales, but don’t miss a big opportunity that could have a huge impact on your business. We’re talking about back-to-school, and the stats from the 2014 Back-to-School National Retail Federation Survey we share in this video may surprise you. Take a look:

Some key highlights:

• The average family with children in grades K-12 will spend $669.28 on apparel, shoes, supplies and electronics, up 5% from last year.
• Combined spending for back-to-school and college is expected to reach $74.9 billion.
• For the first time, the National Retail Federation asked school shoppers about their plans to shop at local/small businesses for their needs: 17.4% will support local/small retailer to buy school items.
• Millennials plan to spend $913 million of their own money on school items.

Back-to-school has positioned itself as a prime shopping season that businesses need to pay attention to.

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