Electronics to Get Higher Back-to-School Spend: NRF
Consumers plan to spend record amounts on school and college supplies as they prepare for a return to in-person classrooms this fall, said survey results emailed Monday by the National Retail Federation. Spending for college will average $1,200, up $141…
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from last year, with $80 of the increase pegged for electronics and dorm furnishings, NRF said. Back-to-school shoppers plan to spend an average $21 more on electronics this year than 2020, it said. Of those planning to buy electronics, 49% plan to buy a laptop, 32% a calculator and 31% a tablet, it said. Total back-to-college spending is forecast at $71 billion, up from $67.7 billion in 2020. Families with children in elementary through high school plan to spend an average of $848.90 on school items, $59 over last year, with total back-to-school spending expected to reach a record $37.1 billion. As of early July, 51% of K-12 and college shoppers had begun shopping for school items; 39% shopped for school items during recent sale events such as Amazon Prime Day, Target Deal Days and Walmart's Deals for Days, said the survey. Some 43% said they plan to use money they received from government stimulus to buy back-to-class items. The most popular destinations for K-12 shoppers are online (48%), department stores (48%), discount stores (44%), clothing stores (41%), office supplies stores (27%) and electronics stores (27%). Top college shopping destinations are online (43%), department stores (33%), discount stores (30%), office supplies stores (29%) and college bookstores (28%). The survey of 7,704 consumers was fielded by Prosper Insights July 1-8.