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Wednesday, September 2, 2026The Morning Brief →Sign in
Passive & Indexing

IBUY's back-to-school trade reaches the checkout

The NRF's $146.8 billion forecast is a seasonal headline; Wayfair, Etsy, and Affirm give IBUY a claim on the financing layer as well as the goods.

The National Retail Federation's back-to-school forecast, a record $146.8 billion reported by ETF Trends, puts the Amplify Online Retail ETF at the center of the seasonal trade, but the fund's relevance runs beyond the sales total to the checkout itself, where Affirm sits alongside Wayfair and Etsy.

The overlap starts with dorm furnishings: Wayfair, IBUY's largest holding at 3.39%, sells the furniture, bedding, and storage students buy before move-in, while Etsy, at 2.82%, reaches the part of the basket that runs past standardized supplies — personalized accessories, apparel, and room décor from independent sellers.

The NRF projection spans clothing, electronics, school supplies, and dorm furnishings, and the survey math favors IBUY's corner of retail. Half of K-12 shoppers and 41% of college shoppers plan to buy online this year, according to the survey, while department stores are the closest rival at 47% for K-12 families and both department and discount stores trail at 33% for college shoppers, where the web holds its widest edge.

IBUY tracks the EQM Online Retail Index, which divides its territory into online marketplaces, traditional online retail, online travel, and omnichannel retail; it held 83 securities as of Sept. 1, a spread suited to a season no single retailer owns, and ETF Trends has previously reported a summer surge in the fund's performance as the back-to-school window opens.

Affirm, at 2.55%, extends the same logic one step past the merchants. Twenty percent of shoppers tell the NRF they use buy-now-pay-later options, a habit with particular force in electronics and dorm furnishings, where spreading payments out matters, and IBUY's stake gives the fund a claim on the financing layer as well as the goods.

A record projection is a better marketing line than an investment timeline, since an ETF that trades daily cannot be bought for August and sold at the September bell. The durable position is the long shift of retail share to online checkout, and this year's NRF data adds a specific piece to it: with installment financing sitting at the checkout itself, IBUY's 2.55% Affirm position is exposed to the installment plan for a student's laptop as much as to the laptop.

Sources & further reading
ETF Trends
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