Retailers who fail to promote back-to-college offers and savings this year do so at their own peril.

Families with college students will spend approximately $46 billion this summer, which accounts for nearly two-thirds of the anticipated $72.6 billion on both K-12 and college students, according to Deloitte’s “2017 Back-to-College Survey.” More than two-thirds (68%) of parents expect that more than half of their back-to-college spending will be influenced by their students. Nearly 57% students plan to contribute more than half of the budget.

“Back-to-college shopping is prime time for retailers to create fans that can last a decade or more,” said Rod Sides, vice chairman, Deloitte LLP and U.S. retail, wholesale and distribution practice leader. “The students appear to have the most influence on what the family buys for back-to-college, so it makes sense for brands to create those loyalists today, and continue to see the payoff beyond the college years.”

Parents and student shoppers alike can’t pass up a good deal: Roughly half of back-to-college shoppers, both parents and students, plan to increase spending…