According to the National Retail Federation’s (NRF) 2014 Back-to-School Survey, conducted by Prosper Insights & Analytics, the average family with children in grades K-12 will spend $669.28 on apparel, shoes, supplies, and electronics. This is up 5 percent from a total spend of $634.78 last year, driven by increased demand for electronic items, as well as parents’ need to restock their children’s school supplies.
NRF broke down spending by grade, and according to the survey, the average family shopping for high school students will spend $682.99, while spending on middle school/junior high comes in a close second at $682.13. Parents with elementary school-age children will spend an average of $580.94.
Every category will see an increase in spending, including average spend on supplies and electronics. According to the survey, back-to-school shoppers will spend an average $212.35 on electronic items, up 7 percent from $199.05 last year, with total spend expected to reach $8.4 billion.
The survey also finds that millennial students may be driving an increase in planned spending at specialty stores. The survey found 53.8 percent of back-to-school shoppers will shop at a clothing store, up from 51.5 percent last year and a survey high, while 27.5 percent will shop at electronics stores, up from 25.9 percent last year and another survey high.