Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Back-to-School Season Sees Shorter Shopping Lists

Back-to-School Season Sees Shorter Shopping Lists

Add to Favorites:
Back-to-School Season Sees Shorter Shopping Lists
August
14

It’s that time of year again. Kids are planning their back-to-school outfits, while parents are planning their back-to-school budgets. But according to an industry survey, if last year’s jeans still fit, a new pair may not make the shopping list.

According to the pollby the National Retail Federation (NRF), total back-to-school spending this year is anticipated to hit $26.7 billion for the K-12 set, with families spending an average of $634.78 each on things like electronics, school supplies, shoes and clothing. That’s down from last year’s high of $688.62, but still tops 2010’s average of $606.40 and 2011’s $603.63.

Families with college-bound kids will spend more than those with younger ones, but even among that demographic, spending looks like it will be down from last year. In 2012, parents sending students off to college spent an average of $907.22. This year they plan to cut that amount by $70.39, for an average of $836.83.

When factoring in both K-12 and college students, total back-to-school spending is expected to be $72.5 billion, according to the NRF forecast.

Looking good is number one

The first priority for many kids is finding the perfect first-day-of-school outfit – and family budgets reflect that. Apparel and accessories will take up the largest piece of the back-to-school budget pie, with 95.3% of survey respondents saying they will spend an average of $230.85 on new clothing. The average amount going toward footwear is $114.39, while school supplies take up the smallest chunk of change, at an average of $90.49.

Only 55.7% of K-12 families plan to spend money on electronics, and those who do will spend less ($199.05) than they did in 2012 ($217.88).

The economy factors into spending plans

For 80.5% of families, economic concerns will affect their shopping habits this season. Comparison shopping and online shopping are two ways people plan to stretch their budgets; 36.6% say they will look for the best deal online, and 18.5% will increase the amount of shopping they do online.

Those who plan to shop at brick-and-mortar stores say they’ll go to discount stores (67.1%), department stores (61.7%), clothing stores (51.5%), office supply stores (40.6%), electronics stores (25.9%) drug stores (19.6% ) and thrift shops (13.7%).

Season already in full swing

Some schools are already back in session, and some don’t start until after Labor Day, but shoppers have been stockpiling school supplies for quite a while already. Almost 24% of K-12 families say they start shopping two months before the first day back, 49% get out their lists three weeks to a month beforehand, and 22% shop one to two weeks before school starts. Only 5.4% of consumers report putting off shopping until the week school starts, or after the first day of school.

The NRF Back-to-School and Back-to-College studies were conducted between July 1st and 8th, 2013 and comprised answers from 5,635 adults.

Add to Favorites:

Related News:

Downturn in Identify Theft Losses

By Dar Dowling, Posted: March 16, 2015

Last year $16 billion was stolen from 12.7 million Americans, but the good news is that’s down slightly compared to 2013 according to a new study. This dip is good news for consumers, yet it doesn’t mean the fight is over. There’s a new ... Continue reading
Upromise MasterCard Earns Users Millions in College Savings

By Dar Dowling, Posted: April 13, 2015

Upromise cardholders earned over $50 million in cash back for college expenses in 2014. Since its launch, the program has earned members $450 million. Continue reading
Free Two-Day Shipping for American Express Cardholders

By Elizabeth Nelson, Posted: May 27, 2013

American Express has partnered with ShopRunner, a network of over 70 online retailers, and is offering a free one-year membership to cardmembers. It includes free two-day shipping on items from any ShopRunner retailer. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit