Back-to-College Spending to Lag Versus Last Year, NRF Survey Says

       

       

WASHINGTON–The economy will have a definite impact on shopping for back-to-college this year, according to a survey conducted by BIGresearch for the National Retail Federation.

According to the annual back-to-college survey, parents and students are projected to spend an average of $808.71 on school items, which would be down from last year’s average of $835.73. The total includes an average expenditure of $96.84 on dorm furnishings, compared with last year’s average of $96.94. Nearly 84 percent of the survey respondents said the economy will affect their spending plans, including purchasing more store brands or generic products, and increasing their comparison shopping online.

Discount stores are expected to garner the lion’s share of back-to-college shopping, with 53.9 percent of the participants saying they will do some shopping in this channel. Department stores ranked second with 47.6 percent of the respondents, and home-furnishings or decor stores will be patronized by 11.2 percent of the respondents.

Posted in News, Retail.

Last updated: July 21, 2011