3 On Your Side: Average Back-To-School Spending $688
By Jim Donovan
PHILADELPHIA (CBS) – Even though we’re in the dog days of summer, before you know it kids will be heading back to school. As 3 On Your Side Consumer Reporter finds, just walk into any store and you can see that retailers are ready.
The thought of going back to school is a downer for most kids on summer break. For retailers, however, things are looking up. The National Retail Federation’s annual survey of back-to-school shoppers finds the average person with school-age children will spend $688.62, that’s up about $85 from last year, for a total of more than $30 billion in retail sales.
Ellen Davis with the National Retail Federation says, “When you think about how much people are spending, a lot of them have tried to make do with what they had over the last several years and they want to make sure that their kids have everything they need to go back to school.”
The bulk of back-to-school money will be spent on clothing, about $246. That will be followed by electronics – $217; shoes spending will be just over $129 and about $95 will be spent on other supplies.
Retailers hope a robust back-to-school season can snap a three-month streak of declines in sales, as consumers remain cautious. Half of those surveyed said they’ll be seeking discounts. Retailers say they’ll find plenty in stores and online.