Back to School Spending Expected to Climb This Year
The National Retail Federation's 2010 Consumer Intentions and Actions Back to School survey, conducted by BIGresearch, found that the average
American family will spend $606.40 on clothes, shoes, supplies and electronics, compared to $548.72 last year, and close to the $594.24 in 2008.
"We are encouraged by the fact that parents are eager to start their back to school shopping this year, but the industry still remains cautiously
optimistic about recovery," said NRF President and CEO Matt Shay. "As the second half of the year gets under way, retailers will gauge their customers'
spending appetites, which often serve as a bellwether for the all-important holiday season."
The weak economy is still playing a role. The survey found that for back to school 44.3% of Americans will buy more store brand or generic products,
compared to 41.7% last year. Spending on apparel will take up the majority of consumers' budgets with the average family of school-aged kids expected to spend $225.47 on jeans, shirts and other types of clothing. Other spending includes computers and electronics ($181.60), shoes ($102.93) and school supplies ($96.39).
As far as where families will shop this year, seven in 10 (71.2%) will head to a discount store and more than half (53.9%) will visit their favorite department store. Other popular shopping destinations include clothing stores (49.0%), electronics stores (23.0%), office supply stores (41.2%), drug stores (19.5%) and thrift stores (17.0%). More people will be shopping online this year - 30.8% vs. 22.2% last year.
The survey found that teenagers and pre-teens will be spending more of their own money on apparel and supplies this year.
Teenagers are expected to shell out an average of $31.74 for school items, up slightly from $30.88 last year. Pre-teens will spend an average of $18.27, up
from $11.94 in 2009.
Nearly half (47.6%) of back to school shoppers will begin their shopping three weeks to one month before school starts and one-quarter (24.8%) will start one to two weeks before school begins. Some will get a jump start and begin shopping two months before the new school year (21.6%). Just three percent (3.0%) will wait until the week school starts or even after school begins.
