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NRF: back-to-school spending to reach $17.6 billion Print Email
Wednesday, 19 July 2006 08:00 PM America/New_York

Families with school-aged children will be spending more on back-to-school shopping this year than last, with the average family paying out $527.08, up from $443.77 in 2005, according to the National Retail Federation (NRF). Total spending is estimated to reach $17.6 billion, up from $13.4 billion last year.

The findings are the result of the NRF's 2006 Back-to-School Consumer Intentions and Actions Survey, conducted by BIGresearch.

While spending will jump in all categories, electronic and apparel purchases will fuel this year's back-to-school growth, the NRF said in a statement. Total spending on electronics or computer-related equipment, such as home computers, laptops, PDAs or calculators is estimated to increase by more than $1.5 billion this year ($3.82 billion vs. $2.06 billion), rebounding after a sharp decline in 2005.

“The back-to-school shopping season serves as an important bellwether for the holiday season by helping retailers pinpoint emerging trends and popular products,” said Tracy Mullin, NRF president and CEO. “Retailers will be tracking the performance of apparel and electronics very closely to ensure that their stores have the right merchandise mix for the fourth quarter.”

Apparel is also expected to be a big performer, with the average consumer expected to spend $228.14, up from $205.31 in 2005. Other popular items on consumers' back-to-school lists include shoes ($98.34) and school supplies, such as notebooks, folders, pencils, backpacks and lunchboxes ($86.22).

The survey found that one in six parents (16.5%) will begin shopping for back-to-school merchandise at least two months before school starts. Close to half (41.9%) will begin three weeks to one month before school starts, and one in three (32.5%) will wait until 1-2 weeks before school begins.