Wow, I can’t believe it, but it’s almost time to go back to school. (At least where we live in New York. I know other parts of the country have already been back to school for a few weeks.)
And of course, back-to-school time means back-to-school shopping! Our family is almost finished with our shopping. We bought new clothes and much of the needed supplies.
What about you? Did your kids, or grandkids, already start school? If so, how did you do with their shopping? If your kids haven’t started school, have you made much progress on your back-to-school shopping?
How Much Is Being Spent On Back-To-School Purchases?
So how much are people spending for back-to-school-related items?
According to the National Retail Federation, families with children in elementary through high school plan to spend an average of $848.90 on school items, which is $59 more than last year. Total back-to-school spending is expected to reach a record $37.1 billion, up from $33.9 billion last year.
Meanwhile, according to the NRF, college students and their families plan to spend an average of $1,200.32 on college or university items, an increase of $141 compared with last year. Over half ($80) of this increase is due to increased spending on electronics and dorm furnishings. Total back-to-college spending is expected to reach a record $71 billion, up from $67.7 billion in 2020.
While families are planning to spend more on K-12 students in every category, electronics and clothing are experiencing the biggest increases. Back-to-school shoppers plan to spend $21 more on average on electronics this year, vs. 2020 and $19 more on clothes. Of those planning to purchase electronics, half (49%) plan to buy a laptop, followed by a calculator (32%) and a tablet (31%).
Top Back-To-School Shopping Destinations
While online shopping remains a top destination for back-to-school shopping, families appear to be much more comfortable shopping in store this year than last year during the peak of the pandemic.
The most popular destinations for K-12 shoppers are online (48%), department stores (48%), discount stores (44%), clothing stores (41%), office supplies stores (27%), and electronics stores (27%), according to the NRF.
The top destinations for college shoppers include online (43%), department stores (33%), discount stores (30%), office supplies stores (29%), and college bookstores (28%), said the NRF.
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.
Have a great weekend!
Back To School … Already?! (August 24, 2018)