Are your kids or grandkids going back to school – or have they already started? Whether your children are young or not so young, you certainly know that the back-to-school season is one of the busiest times for retailers.
According to the National Retail Federation, families with children in elementary school through high school plan to spend an average $696.70, which is up from $684.79 last year. Overall, spending is expected to total $26.2 billion, down from last year’s $27.5 billion despite the increase in per-household spending.
Meanwhile, according to the NRF, families with college students are expected to spend an average $976.78, which is up from last year’s $942.17. All told, their spending is expected to total $54.5 billion, down from last year’s record $55.3 billion.
Panel members and back-to-school shopping
As part of our NCPulse program, we posted a video that asked NCP panel members how much they spent or expected to spend on back-to-school shopping. Most of the respondents to our survey said they spent $100 to $200 on school supplies, and some spent up to $500 on supplies and clothing for their children.
Now, to be specific, the NRF said that clothing and accessories will top K-12 families’ expenses at an average $239.82, followed by electronics such as computers, calculators and phones ($203.44); shoes ($135.96) and supplies such as notebooks, pencils, backpacks and lunch boxes ($117.49). K-12 families plan to do most of their shopping at department stores (53%), discount stores (50%), online (49%), clothing stores (45%) and office supply stores (31%).
Among K-12 shoppers, teens are expected to spend an average $36.71 of their own money, up from $30.88 10 years ago, while pre-teens should spend $26.40, up from $11.94, 10 years ago.
As for college shoppers, the NRF said they plan to spend the most on electronics ($234.69), followed by clothing and accessories ($148.54), dorm and apartment furnishings ($120.19) and food items ($98.72). They plan to do most of their shopping online (45%), followed by department stores (39%), discount stores (36%), college bookstores (32%) and office supply stores (29%).
Remember: If you do any back-to-school shopping, please record these purchases! Many of these items are sold as multipacks. Please refer to the FAQs section on ncponline.com if you have questions about recording multipacks.
Also, be on the lookout for the next NCPulse video – this one is focused on the end of summer and Labor Day.
Speaking of Labor Day, the Panel Support Center will be closed on Monday, September 2.
I hope you have a nice, relaxing weekend.