If it’s mid-July, it must be, uh, time for back-to-school buying. Ugh! Could that be correct? Yep, says the National Retail Federation, whose 2007 Back-to-School survey reveals that families already are thinking ahead to school shopping.
Retailers should rejoice, as the survey conducted by BIGresearch shows that families with kids in school expect to spend $563.49 on back-to-school merchandise. That figure is up from last year’s $527.08. All told, moms and dads will hand over $18.4 billion getting their kids ready to return to school.
The merchandise category realizing the biggest jump in sales this year is electronics, with families expecting to spend $129.24, up from the $114.38 they spent in this category last year. Parents will purchase computers, educational software and printers.
The kids sitting at new computers will be well-shod, with spending in the footwear category expected to increase 10.3 percent over last year ($108.42 vs. $98.34). Parents will spend a little more on school supplies, with that projected figure up to $94.02 over last year’s $86.22.
Interestingly, even though 95.4 percent of consumers surveyed plan to buy back-to-school clothing and accessories and even though that category remains the biggest at $7.6 billion, spending on clothing and accessories will remain flat, with parents spending an average $231.80, up only slightly from last year’s $228.14.
Tomorrow in Retail Strategies: Where parents plan to shop.