Saturday, November 2, 2024

Consumers Get Early Start On Back-To-School Shopping

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Similar to 2023, 85% of back-to-class shoppers say they will take advantage of Prime Day and other retailer sales in July to buy classroom staples and other school necessities.

Families with children in elementary through high school plan to spend an average of $874.68 on clothing, shoes, school supplies, and electronics. This is approximately $15 less than last year’s record of $890.07 but is the second-highest amount in the survey’s history. Total back-to-school spending is expected to reach $38.8 billion, also the second-highest figure on record, after 2023’s high of $41.5 billion.

K-12 shoppers are budgeting $309.35 on average for electronics ($13.7 billion total), $253.29 for clothing and accessories ($11.2 billion total), $141.62 for school supplies ($6.3 billion total), and $170.43 for shoes ($7.6 billion total).

Similar to past years, the most popular destinations for back-to-school shopping are online (57%), department stores (50%), discount stores (47%), clothing stores (42%) and electronics stores (23%).

College students and their families are expected to spend an average of $1,364.75 on items for the upcoming school year, in line with last year’s record of $1,366.95. Total back-to-college spending is expected to reach $86.6 billion, the second-highest figure in the history of the survey. Last year, total spending was forecast to hit a record $94 billion.

The top five categories for college spending include $359.49 on average for electronics ($22.8 billion total), $192.40 for dorm or apartment furnishings ($12.2 billion total), $171.06 on clothing and accessories ($10.9 billion total), $149.71 on food ($9.5 billion total) and $112.60 on shoes ($7.1 billion total).

Similar to past years, the top shopping destinations for back-to-college students and their parents are online (50%), followed by department stores (35%), discount stores (31%), and college bookstores, office supply stores, and clothing stores (tied at 26%).  

Since 2003, NRF has conducted a comprehensive survey on back-to-class shopping trends. This year’s research included 7,533 consumers and was fielded July 1-8 with a margin of error of plus or minus 1.1 percentage points.

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