Christian Retailing

Back-to-school spending expected to increase Print Email
Written by Christine D. Johnson   
Monday, 19 July 2010 01:02 PM America/New_York

Back-to-school spending is expected to offer a retail boost this year, according to the National Retail Federation (NRF).

The group's 2010 Consumer Intentions and Actions Back to School Survey predicts that the average American family will spend just over $606 on clothes, shoes, supplies and electronics, compared to just under $549 last year, with total spending on children aged K-12 reaching $21 billion.

Together with college-age spending, the back-to-school market is the second-biggest consumer-spending event of the year, behind the winter holidays.

However, the NRF study found that the economy still is making an impact, with more families planning to buy store brand or generic products (44.3% compared to 41.7% last year). Seven out of 10 survey respondents said that they intend to shop at a discount store and more will be shopping online (30.8% compared to 22.2%).

"We are encouraged by the fact that parents are eager to start their back-to-school shopping this year, but the industry still remains cautiously optimistic about recovery," said NRF President and CEO Matt Shay. "As the second half of the year gets under way, retailers will gauge their customers' spending appetites, which often serve as a bellwether for the all-important holiday season."