Ohio’s initial sales tax holiday in August 2015 boosted sales tax revenues by $4.7 million and saved shoppers $3.3 million on sales tax, according to a study from the University of Cincinnati. Local business officials expect to see that revenue increase again this weekend.
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3. How has spending changed for back-to-school shopping?
Families with children in elementary through high school plan to spend an average $687.72 each, for a total of $29.5 billion, an 8 percent increase from last year’s $27.3 billion nationwide. Total spending is the second-highest in the history of the survey following a peak of $30.3 billion in 2012.
What people are buying for school has also changed in recent years. As students enter into high school and college, they are often required or encouraged to buy more electronics like calculators, specific types of laptops and other accessories.
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Among electronics shoppers, 45 percent said they would buy a laptop computer while more than a third plan to purchase a tablet or a calculator. One in four consumers plan to purchase electronic accessories such as a mouse, flash drive or charger.
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