How does your back-to-school spending compare?
The average expected spending this year for families with kids in grades K-12 is $688. It's $907 for college kids.
This post comes from Yuval Rosenberg at partner blog The Fiscal Times.
It's the second most wonderful time of the year for retailers. The weather map may still show much of the country blanketed by 90-plus-degree temperatures, but even before the calendar turns to August, the National Retail Federation is already looking ahead to the back-to-school shopping season, the second-biggest selling season behind only the year-end holidays.
Shoppers have started earlier and earlier too. "We fully expect retailers to be aggressive with their promotions both in-store and online, keeping an eye on inventory levels as families look to spread out their shopping throughout the entire summer," NRF president and CEO Matthew Shay said in a release announcing the results of an annual spending survey of more than 8,500 consumers.
Here is a look at how the school spending adds up. Study up, because there may be a pop quiz later.
- 79 million -- Children and adults enrolled in school as of October 2010, according to the Census Bureau.
- $30.3 billion -- Expected total back-to-school spending this year for children in kindergarten through 12th grade, according to the NRF.
(Post continues below.)
- $83.8 billion -- Expected total back-to-school spending this year including K-12 and college combined, according to the NRF.
- $68.8 billion -- Total back-to-school spending last year for K-12 and college combined, according to the NRF.
- $907.22 -- Expected average back-to-school spending by college students and their families this year, up from $808.71 last year.
- $688.62 -- Expected average back-to-school spending this year by families with children in kindergarten through 12th grade.
- $603.63 -- Average back-to-school spending last year.
- $739.75 -- Average amount men are expected to spend on their pre-college children this year.
- $640.42 -- Average amount women are expected to spend on their pre-college children this year. Women are also more likely to shop at discount stores than men, according to the survey.
- 84.8 -- Percentage of shoppers with school-aged children who say the economy will affect their shopping this year, down from 86.1% last year.
- $2.4 billion -- Amount spent at bookstores in August 2011, more than any other month last year, according to the Census Bureau.
- $7.7 billion -- Amount spent at family clothing stores that same month, according to the Census Bureau. Clothing sales were higher in November and December 2011.
- 39.6 -- Percentage of parents who say they will shop online this year, up from 31.7% last year and 21.4% in 2007.
- 32.1 -- Percentage of shoppers who say they plan to comparison shop online this year, up from 29.8% last year.
- $246.10 -- Expected average spending on clothes this year for K-12 students, according to the NRF.
- $217.88 -- Expected average spending on electronics this year for K-12 students, according to the NRF.
- $95.44 -- Expected average spending on school supplies like notebooks and backpacks this year for K-12 students, according to the NRF.
More on The Fiscal Times and MSN Money:
Copyright © 2013 Microsoft. All rights reserved.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Joe Cantrell says he faces charges after trying to take advantage of the retailer's policy.