News

Average consumer back-to-school spend expected to break records

August 29, 2019

Consumer spending for back-to-school needs and college items will break records this year, according to a National Retail Federation survey conducted by Prosper Insights and Analytics.

Shoppers buying for children in elementary school grades through high school are expected to spend an average of $696.70 — a jump from $684.79 last year and more than the 2012 record spend of $688.62.

Yet, the spending total is expected to hit just $26.2 billion, a dip from last year’s $27.5 billion due to fewer families needing to shop for children in grades K-12, according to a release on the findings.

"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 in the release. "We're expecting record spending and retailers are ready to provide students with all the items they need for a successful school year."

With regard to spend for college students, families expect to dole out an average of $976.78, which is up from last year’s $942.17 and beats the previous record of $969.88 set in 2017.

However, given the decreasing number of college students, total spend is expected to hit just $54.5 billion, down from last year’s record $55.3 billion.

Total spending (for K-12 schools and college) is projected to reach $80.7 billion, down from last year’s $82.8 billion largely because of the decreased number of households with children in elementary through high school, according to the release.

The survey of 7,660 consumers was conducted the first week in July.