After parents increased their spending in 2012, back-to-school purchasing will decrease this year, according to the National Retail Federation (NRF).

Based on the group's 2013 Back-to-School Survey conducted by Prosper Insights & Analytics, the average person with children in grades K-12 will spend $634.78, down from $688.62 last year. Total spending is expected to reach $26.7 billion, a drop from last year's $30.3 billion projection.

Combined K-12 and college spending will reach $72.5 billion, compared to nearly $84 billion in 2012, with back-to-school spending as the second-biggest consumer spending event for retailers behind the winter holidays.

"The good news is that consumers are spending, but they are doing so with cost and practicality in mind," said NRF President and CEO Matthew Shay. "Having splurged on their growing children's needs last year, parents will ask their kids to reuse what they can for the upcoming school season.

"As they continue to grapple with the impact of increased payroll taxes, Americans will look to cut corners where they can, but will buy what their kids need," he added. "It's important to note, however, that spending levels are still well above where they were a few years ago."

Parents will spend the most on clothing, accessories and electronics this summer. Parents estimate they will spend an average of $230.85 on clothes ($246.10 in 2012) and $199.05 on electronics ($217.88 in 2012). More than half (55.7%) will invest in some sort of electronic device, a decrease from the 59.6% who planned to do so last year. More parents than ever before plan to shop earlier and look for online deals, NRF said.

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