The National Retail Federation’s 2012 Back-to-School spending survey, conducted by BIGinsight, reveals that the average American with children in grades K-12 will spend $688.62 on their children, up nearly $80.00 from last year. Total spending is expected to reach $30.3 billion. Combined, K-12 and college spending will reach $83.8 billion, making the back-to-school shopping season the second biggest consumer spending event for retailers, behind the winter holidays.
NRF attributes the jump to more children entering elementary and middle school this fall and parents hitting the stores to replace and replenish what kids had to “make-do” with last year. This summer, parents are expected to spend the most on clothing, accessories, and electronics—approximately $246.10 on clothes and $217.88 on electronics. Nearly 60 percent will invest in an electronic device. Additionally, the average person with children in grades K-12 will spend $129.20 on shoes and $95.44 on school supplies such as notebooks, pencils, and backpacks.
More families say they will shop at department stores and online for school items as they look to get the best bang for their buck. Nearly 60 percent will take advantage of department stores’ private label offerings and exclusive product lines, up from 57 percent last year and the highest in the survey’s 10-year history. Parents will also scour the Internet for free-shipping and other promotions. Nearly 40 percent will take their school shopping lists online, up from 31.7 percent last year and nearly doubling since 2007, when 21.4 percent planned to shop online.
This post was originally written by Lindsay Gordon and published by ToyBook.com. For more news, visit www.toybook.com, follow The Toy Book on Twitter, and like The Toy Book on Facebook. The Toy Book is a bimonthly trade magazine covering the toy industry, published by Adventure Publishing Group.