Strong Back to School Spending Predicted, Fastest Growth in Electronics Footwear

[mandy]

Though the summer is still in full swing, families across the nation are already planning back-to-school shopping trips. According to the National Retail Federation’s 2007 Consumer Intentions and Actions Back-to-School survey, conducted by BIGresearch, families with school-age children are expected to spend $563.49 on back-to-school merchandise, up 6.9 percent from last year’s $527.08 average. Total back-to-school spending this year is expected to reach $18.4 billion.* 

According to the survey, the electronics category will see the biggest increase in sales this year, with families spending 13.0 percent more on electronics than last year ($129.24 vs. $114.38). Footwear will also see a higher-than-average sales increase, with sales expected to rise 10.3 percent over last year ($108.42 vs. $98.34). Families are also expected to spend $94.02 on school supplies, up from $86.22 a year ago.

Though the majority of shoppers will be purchasing clothing and accessories this year (95.4%), spending in that category is expected to be flat, with consumers spending an average of $231.80 on those purchases, similar to last year’s $228.14. Clothing and accessories remains the largest spending category at $7.6 billion.

full article: http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=342
full survey results: http://www.nrf.com/modules.php?name=Documents&op=viewlive&sp_id=366