The Union Recorder

CNHI Special Projects

July 27, 2012

Back-to-school spending grows as parents restock, replenish

WASHINGTON — With more children entering elementary and middle school this fall and after cutting back their spending last year, parents with growing kids will hit the stores to replace and replenish what their children might have had to “make-do” with last school season.

According to National Retail Federation’s (NRF) 2012 Back-to-School spending survey conducted by BIGinsight, the average person with children in grades K-12 will spend $688.62 on their kids, compared with $603.63 last year. Total spending is expected to reach $30.3 billion.

Combined K-12 and college spending will reach $83.8 billion, serving as the second biggest consumer spending event for retailers behind the winter holidays.

“When it comes to their children, there’s nothing more important to a parent than making sure their children have everything they need, even in a tough economy—and especially when it comes to back-to-school shopping,” said NRF President and CEO Matthew Shay. “Backpacks rip, pencils break, and children grow, there’s no way around it, but as they begin tackling their shopping lists, parents will make sure to spend smarter than they ever have before. 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.”

How it's spent

Not surprising, parents will spend the most on clothing, accessories and electronics. Realistic about the cost of select items and the necessities needed for the school year, parents estimate they will spend an average of $246.10 on clothes and $217.88 on electronics. Nearly six in 10 (59.6%) will invest in some sort of electronic device, a sharp increase from the 51.9 percent who planned to do so last year.

Additionally, the average person with children in grades K-12 will spend $129.20 on shoes and $95.44 on school supplies such as notebooks, pencils and backpacks.

Text Only
CNHI Special Projects
Poll
AP Video
Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites
Facebook
Twitter Updates
Follow us on twitter
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Stocks
NDN Video
Big Weekend For Atlanta Braves In Cooperstown - @TheBuzzeronFox Chapter Two: Becoming a first-time director What's Got Jack Black Freaking Out at Comic-Con? Doctors Remove 232 Teeth From Teen's Mouth Bradley Cooper Explains His Voice in 'Guardians of the Galaxy' Deja vu: Another NYPD officer choke-holding a suspect 'Fifty Shades of Grey': Watch the Super Sexy First Trailer Now! Reports: Ravens RB Ray Rice Suspended For 1st 2 Games Of The Season Air Algerie plane with 119 on board missing over Mali Diamond Stone, Malik Newman, Josh Jackson and others showcase talent Free Arturo - The World's Saddest Polar Bear A Look Back at Batman On Film Through The Years LeBron James -- Dropped $2k On Cupcake Apology ... Proceeds To Benefit Charity Snoop Dogg Says He Smoked Weed at the White House Raw: Fight Breaks Out in Ukraine Parliament Chris Pratt Interrupts Interview To French Braid Intern's Hair Shirtless Super Mario Balotelli Dances While Ironing - @TheBuzzeronFOX Whoa! Watch "Housewives" Star Do the Unthinkable LeBron apologizes to neighbors with cupcakes Justin Bieber In Calvin Klein Underwear Shoot