NEW YORK Parents and students won't skimp on college school supplies this year. However, back-to-school spending for grade school children is expected to experience a steep decline, according to the National Retail Federation's "2009 Back-to-School Consumer Intentions and Actions Survey," conducted by BIGresearch.
College-bound students and their parents will dish out 3 percent more dough than last year, spending an average of $618.12. Spending is expected to drop 7.7 percent to $548.72 for kids attending kindergarten through high school. Total back-to-school spending is expected to hit $47.5 billion, per the study, which monitors more than 8,000 consumers.
Four out of five Americans said the economy would impact their back-to-school shopping plans. More than half (56.2 percent) of back-to-school shoppers are planning to hunt for sales more often, 49.6 percent plan to spend less overall, 41.7 percent will purchase more store brand/generic products and 40 percent plan to increase their use of coupons.
"The economy has clearly changed the spending habits of American families, which will likely create a difficult back-to-school season for retailers, said Tracy Mullin, president and CEO of the NRF, in a statement. "As people focus primarily on price, strong promotions and deep discounts will ultimately win over back-to-school shoppers this year."
Electronics is expected to be the only category boasting an increase in spending for families with grade-school children. These shoppers will shell out 11 percent more this year for items such as home computers, laptops, handheld organizers or calculators. Families with college-bound students will spend 25.6 percent more.
Discount stores will attract the most shoppers for both grade school and college-bound students, capturing 74.5 percent and 53.4 percent of shoppers, respectively. Drugstores, meanwhile, will be a more popular destination this year. The channel showed a 38 percent increase this year as the choice for college-bound families and an 18 percent increase for families with students in grades K-12.
Nielsen Business Media