As students gear up to go back to school and college, families plan to spend more than ever on supplies ranging from pencils and backpacks to computers and dorm refrigerators, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights and Analytics.
“Consumers are in a strong position given the nation’s growing economy, and we see this reflected in what they say they will spend on back-to-class items this year,” said Matthew Shay, president and CEO, NRF. “We’re expecting record spending and retailers are ready to provide students with all the items they need for a successful school year.”
Families with children in elementary school through high school plan to spend an average $696.70. That’s up from $684.79 last year and tops the previous record of $687.72 set in 2017. With fewer families surveyed saying they have children in grades K-12, spending is expected to total $26.2 billion, down from last year’s $27.5 billion despite the increase in per-household spending.
Families with college students are expected to spend an average $976.78, which is up from last year’s $942.17 and tops the previous record of $969.88 set in 2017. With fewer survey respondents saying they are attending college, spending is expected to total $54.5 billion, down from last year’s record $55.3 billion.
According to the survey, 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.
“Members of Generation Z are clearly becoming more involved with back-to-school purchasing decisions rather than leaving the choices up to mom and dad,” Shay observed. “Over the years, both teens and pre-teens are spending more of their own money on back-to-school items.”
College shoppers 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%).
“College shoppers are really showing their school spirit when it comes to buying collegiate gear this year,” Shay shared. Spending on college-branded items is expected to average $62.22, up 17% from last year.
For online purchases, 90% of K-12 and 85% of college shoppers plan to take advantage of free shipping.
“Back-to-class shoppers still have the bulk of their shopping to do and are waiting to see what the best deals and promotions will be at a variety of different retailers,” stated Phil Rist, executive vice president of Strategy for Prosper Insights. The survey found 89% of both K-12 and college shoppers still had half or more of their purchases left to complete. Of those, 49% were waiting for the best deals for items on their lists.
J Lindeberg was started by Johan Lindeberg in 1990s with the aimSeptember 2, 2022 | By Shruthi Nair
Majid Al Futtaim has made significant strides toward environmental, social, and corporateJuly 5, 2022 | By RetailME Bureau
Locally-owned supermarket Spinneys and pharmacy retailer Aster Pharmacy have joined forces to
Majid Al Futtaim has announced its audit reviewed operational and financial results
Dubai’s largest developer Emaar has announced that it will sell it’s online
Walmart announced this week that it will offer Paramount Global’s streaming service
Employee retention has been on every company’s minds, especially since the fears
The Frozen Chicken’ as Spinneys was fondly referred to back in the
Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the
GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading
Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot
Eid Al-Fitr is an occasion to gather with your friends and family
Leading retailer LuLu Group further strengthened its presence in the Emirate of
Jones the Grocer, the Australian gourmet grocer and café chain, announces further
Business and government leaders at the Harvard Business School GCC Alumni Club’s
Dubai Chamber of Commerce has revealed that over 27,100 companies joined as
Global real estate advisor CBRE has announced the appointment of Pedro Ribeiro
Prime members on Amazon.ae will have incredible savings across top brands including
GMG, a global well-being company retailing, distributing and manufacturing a portfolio of
Some 88% of consumers in UAE and KSA have revealed that they
India’s leading retailer Reliance has called off its $3.4 billion deal with
The UAE Cabinet on Monday announced a set of new visas that
A creative new Ramadan campaign launched by UK’s leading retail chain Tesco
Around 80 per cent of UAE consumers check at least three sources
In spirit of the holy month, Amazon announced that it will contribute
And so all great things come to an end! 182 days, 192