July 15--It may be time to stock up on back-to-school supplies, but American families are tightening their belts, according to a survey released this week.
An average family with children in the elementary to high school range will spend about $630.36 on back-to-school items like electronics, apparel and other supplies -- down more than 6 percent from last year, according to a survey by the National Retail Federation. The federation's research didn't break down how many children are in its definition of an average family.
Back-to-school spending is expected to reach a total of $24.9 million this year, according to the federation, a retail trade group. Add in the expenses that come with having a child in college, and school-related spending is expected to grow to $68 billion.
Shoppers plan to spend less this year across the board, on clothing and accessories, shoes, school supplies and electronics, the survey said. The deepest dip in spending is expected on electronics or computer-related equipment, with back-to-school shoppers likely to spend $197.24, about 7.7 percent less than they did last year.
Despite the cautious spending this year, fewer families who say their spending is affected by the economy are looking for sale prices on items this year. Fewer also said they'll buy more generic or store-brand products this year, according to the survey.
"The survey found that 76.4 percent of families with school-age children said they will change their spending because of the economy, the lowest in seven years the federation has been tracking it and down from 81.1 percent from last year," the trade group said in a press release.
The back-to-school shopping season is largely viewed as an indicator of what's to come in the all-important holiday shopping season. Back-to-school spending, which kicks off in July, has grown 42 percent over the last decade, according to the federation.
It looks like Midwestern shoppers plan to tighten their belts the most this year, spending on average just over $182. Shoppers in the Northeast and West are expected to spend the most on average, $266 and $234.17, respectively.
Most Midwest shoppers said they planned to do their back-to-school shopping in discount stores followed by department stores, according to the survey.
The survey, conducted for the federation by Prosper Insights Analytics, polled 6,500 consumers for a week in late June.
crshropshire@tribpub.com
