Wednesday, 25 July 2018 11:36

Retailers and Consumers Should Get Ready for the Upcoming Back-to-School Sales Tax Holiday

For Immediate Release: July 25, 2018
CONTACT: James Miller, This email address is being protected from spambots. You need JavaScript enabled to view it., (850)701-3015

Florida’s popular annual shopping holiday takes place August 3-5; Consumers of all ages can take advantage of buying thousands of eligible items tax free

TALLAHASSEE, FL – The Florida Retail Federation (FRF), the state’s premier trade association celebrating more than 80 years of supporting Florida’s retailers, is reminding both retailers and consumers of the upcoming Back-to-School Sales Tax Holiday weekend, taking place August 3-5. During this “holiday,” consumers will not have to pay sales tax on thousands of eligible items such as clothes, shoes and school supplies. The sales tax holiday also benefits Sunshine State retailers who see increased sales and as a result, create new jobs for hard working Florida families.

“The Back-to-School Sales Tax Holiday remains as popular with retailers as consumers, and with the increased strength of Florida’s economy right now, we expect to see near-record sales this year,” said FRF President and CEO R. Scott Shalley. “We want to thank Governor Scott and our legislative leaders for including this holiday in the state budget once again, and we look forward to another successful shopping season with retailers piggybacking discounts on top of the tax-free spending and consumers taking advantage of these deals.”

Serving as the state’s second busiest shopping “holiday” behind Black Friday, this year’s list of eligible items includes clothing, shoes and bags costing $60 or less and school supplies $15 or less. Nationally, the average family is expected to spend $684.79, down slightly from last year’s average of $687.72, but still totaling more than $27.5 billion nationally – the third highest total in survey history, according to FRF’s national partners at the National Retail Federation’s annual survey conducted by Prosper Insights and Analytics.

Those with young people heading to college as well as college and graduate students purchasing for themselves plan to spend an average of $942.17 each, down from $969.88 last year for a total of $55.3 billion nationally. That’s an all-time high in the history of the survey, up from last year’s previous record of $54.1 billion, due to more people shopping this season.

According to the survey, back-to-school shoppers plan to spend the most on clothing ($236.90). In addition, back-to-school shoppers also plan to spend:

  • $187.10 on electronics such as computers, calculators or phones
  • • $138.66 on shoes • $122.13 on supplies such as notebooks, pencils, backpacks, and lunchboxes

Unlike back-to-schoolers, college shoppers will spend the most on electronics ($229.21). Besides electronics, they also plan to spend:

  • $153.32 on clothing and accessories
  • $109.29 on dorm or apartment furnishings
  • $102.82 on food
  • $83.41 on shoes
  • $78.70 on personal care items such as skin and hair care
  • $69.46 on school supplies such as notebooks and backpacks
  • $62.61 on gift cards
  • $53.34 on collegiate branded gear

“This year’s expected spending continues a streak of more than 18 months of record or near-record spending on shopping holidays,” said Shalley. “This shows how strong the overall health of our retail industry is, as well as how vital it is to the economic strength of our state and nation as a whole.”

The top destinations for consumers shopping for back-to-school items are:

  • Department stores (57 percent)
  • Online retailers (55 percent)
  • Discount stores (52 percent)
  • Clothing stores (51 percent)
  • Office supply stores (35 percent)

Similarly, the most popular shopping destinations for back-to-college consumers are:

  • Online retailers (49 percent)
  • Department stores (40 percent)
  • Discount stores (35 percent)
  • Office supply stores (31 percent)
  • College bookstores (30 percent)

The survey also found that more consumers are starting early. Most back-to-school shoppers (77 percent) plan to start at least three weeks before school begins, up from last year’s 74 percent and 64 percent a decade ago. Moreover, 67 percent of college shoppers will start that early, the same as last year but up from 51 percent in 2008. However, there is still plenty of shopping left to do. Nearly nine out of 10 (89 percent) back-to-school and college shoppers still have half or more of their purchases left to complete. Of these, more than half are still waiting for the best deals for the items on their lists.

The survey found teenagers will spend $35.60 of their own money on average for back-to-school while pre-teens will spend $25.06.

The back-to-school sales tax holiday has been one of the most popular shopping holidays among consumers and retailers and has been providing vital tax relief since it first began. The holiday has been recognized in 17 out of the 21 years since it first began in 1998. This year will mark the 9th year in a row it has taken place. For the complete list of eligible tax-free items, see www.floridarevenue.com.

ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year. For more information, visit the FRF website, and follow FRF on Facebook and Twitter.

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