With Florida holding its annual tax-free “back to school” days in the first week of August, the Florida Retail Federation (FRF) showed off some of the benefits this year.
The tax-free holiday will be from August 2 through August 6. Traditionally, these are the busiest shopping days in Florida outside Black Friday.
“We are excited to support this generous five-day tax-free holiday. This annual event provides Floridians with much needed tax relief while providing a nice boost to our local retailers,” said FRF President and CEO R. Scott Shalley on Wednesday. “We commend Governor DeSantis and our legislative leaders for their support of Florida’s families.”
The FRF showcased the supplies which can be purchased without taxes including “technology items up to $1,000 (not included in 2018), clothing, shoes and bags costing $60 or less and school supplies $15 or less.”
Retailers across the state and nation are expected a surge of sales in the coming days. According to the National Retail Federation, the average family shopping for K-12 students will spend a record-high $696.70 even as total sales drop from $27.5 billion last year to $26.2 billion this year due to less families with students.
Families with college students will spend even more with an average of $976.78, up from last year’s $942.17 and a new record. But even here, there are fewer students and total spending is expected to drop from $55.3 billion to $54.5 billion.
“Total spending nationally for K-12 schools and college combined is projected to reach $80.7 billion, down from last year’s $82.8 billion largely because of the decreased number of households with children in elementary through high school,” the FRF noted. “According to the survey, back-to-school shoppers plan to spend the most on clothing ($236.90). In addition, shoppers also plan to spend: $203.44 on electronics such as computers, calculators and phones; $135.96 on shoes; and $117.49 on supplies such as notebooks, pencils, backpacks and lunch boxes”
Shalley said retailers of all stripes will benefit from back to school shopping.
“Consumers desire the ability to shop in different ways and at different times, and retailers have responded by providing innovative shopping options for them to choose from,” said Shalley. “We’re proud of the many technological advancements our retail members have made that ensure everyone’s shopping experience is fun, safe and easy.”