Back-to-school sales to top $80 billion
File Photo: Terry Lewis
File Photo
From Staff Reports
ALBANY – The new school year is still days away, but families already are getting educations in math and economics as they plan to spend $80.7 billion on back-to-school purchases.
They’re also quickly learning a lesson on timing their purchases.
The National Retail Federation, in its annual survey of secondary school and college spending, notes that while the purchasing level is strong, it’s down from 2018’s record $82.8 billion.
Average spending, however, will set new records in both the back-to-school ($696.70, topping 2012’s $688.62) and back-to-college ($976.78, passing the $969.88 spent in 2017) categories.
NRF officials say the reason the record average spending doesn’t mean a new overall spending record is fewer of those surveyed have children attending grades K-12. Also, fewer of those surveyed said they were attending college.
“Consumers are in a strong position given the nation’s growing economy, and we see this reflected in what they say they will spend on back-to-class items this year,” NRF President and CEO Matthew Shay said. “We’re expecting record spending, and retailers are ready to provide students with all the items they need for a successful school year.”
The survey, conducted for the NRF by Prosper Insights & Analytics, found that fewer families surveyed have children in grades K-12. As a result, total back-to-school spending is expected to be $26.2 billion this year. That’s down from 2018’s $27.5 billion, although the average spending last year was lower at $684.79.
Spending by families with college students will be up from last year’s $942.17 but is expected to total $54.5 billion. That’s down from the record $55.3 billion recorded in 2018.
“Members of Generation Z are clearly becoming more involved with back-to-school purchasing decisions rather than leaving the choices up to mom and dad,” Shay said. “Over the years, both teens and preteens are spending more of their own money on back-to-school items.”
Kids spending their own money has risen over the past decade. The survey found teens will spend an average $36.71 this year, up from $30.88 10 years ago. The increase has been more dramatic with preteens, who will spend $26.40, more than double the $11.94 they averaged 10 years ago.
And what will families with K-12 students spend on? Clothing and accessories top the categories at an average $239.82, followed by electronics at $203.44; shoes, $135.96, and school supplies, $117.49.
Most K-12 families (53%) will do most of their shopping at department stores, with half hitting discount stores. They’ll also shop online, 49%; at clothing stores, 45%, and at office supply stores, 31%.
Electronics top the list for college shoppers at an average of $234.69. Clothing and accessories are a distant second at $148.50, followed by $120.19 in dormitory and apartment furnishings and in $98.72 in food items.
College purchasers will turn to the Internet first, with 45% shopping online. Department stores will be visited by 39%, discount stores by 36%, college bookstores by 32% and office supply stores by 29%.
They’ll also exhibit more college spirit, just in time for the 2019 football season. Fifty-seven percent planned to buy college-branded items at an average of $62.22 in expenditures. That average spending is up 17% from 2018.
“College shoppers are really showing their school spirit when it comes to buying collegiate gear this year,” Shay said.
Meanwhile, online shoppers in both the K-12 and college spending categories have a two-word vocabulary: free shipping. Ninety percent of K-12 purchasers and 85% of collegiate ones plan to take advantage of no-cost delivery.
They also have patience.
“Back-to-class shoppers still have the bulk of their shopping to do and are waiting to see what the best deals and promotions will be at a variety of different retailers,” Prosper Insights Executive Vice President of Strategy Phil Rist said.
The survey found 89% of both K-12 and college shoppers still had half or more of their purchases left to complete. More than half – 56% — hadn’t started their shopping at all. Forty-nine% said they were waiting for the best deals.
A two-day Amazon Prime sale began the day the survey was released. Nearly three-fifths of purchasers – 59% — planned to shop on Amazon on Prime Day, but Amazon was not expected to get all the web shopping traffic. Twenty-six percent planned to shop other online retailers on Prime Day, while 23% planned to shop for in-store deals at other retailers.
The survey of 7,660 consumers was conducted July 1-8 and has a margin of error of plus or minus 1.2%.
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