U.S. back-to-school spending to increase 10% over last year

By

Cassidy Mantor

Published
Jul 13, 2017

According to the annual survey conducted by the National Retail Federation (NRF), back-to-school and back-to-college spending in the U.S. is projected to generate $83.6 billion, an increase of over 10% from last year.

The NRF study examined both parents of children going back to school as well as students themselves who were going back to college. Parents surveyed this year have started to include millennials, who are are more tech savvy than previous generations of parents.

Back-to-school spending is projected to total $29.5 billion dollars, which is an 8% increase over last year. Families reported that they expect to increase their spending because they believe the economy is improving.

NRF President and CEO Matthew Shay said, “With stronger employment levels and a continued increase in wages, consumers are spending more and we are optimistic that they will continue to do so throughout the rest of the year.

This year's sales projection for back to college is $54.1 billion. College enrollment has been increasing steadily over the previous years and is slated to hit 21 million students this fall which translates directly to the growth in college spending.

Specific categories that will lead sales in both groups include clothing, shoes and electronics. The average family will spend over $685 on each of their children returning to school in grades K through 12. On average, parents reported they will spend $230 on clothes, $130 on shoes and $204 on electronics.

For college students, key spending will be focused on electronics, which includes computers, tablets and calculators. The average household will spend $220 on electronics, $140 on clothing and $80 each on shoes and personal care items. Home purchases for dorm rooms will average $100 per student.

Less than half of the parents surveyed for back to school will shop online. The majority of parents will shop at department stores and discount stores. 44% of back-to-college shoppers will purchase online, followed by 40% shopping at discount stores.

The survey pooled data from 7,226 consumers during the week of June 30 through July 5.