A National Retail Federation (NRF) survey has found that 29% of US households plan to spend more than last year on back-to-school purchases.
This figure represents a 5% increase over last year for households with school-age children (6 – 17), while almost 30% of college students and their families said they would spend more this year, up from 23% last year.
Despite this good news for retailers, NRF also found that the economy is still on the minds of parents and students, evidenced by 32% of college shoppers that plan to conduct comparison shopping online, while 31% of school shoppers will compare prices online.
For school shoppers, 73% said the economy will change their BTS plans, with 38% shopping for sales more often. Interestingly, 28% said they would buy more store or generic products this year.
For college students and their families, 76% said the state of the economy will change their purchasing plans, with 31% shopping for sales more often while 26% would buy more store own-brand or generic products.
Meanwhile, the number of respondents (57%) that said they planned to spend the same on BTS purchases as last year represents a slight increase over 2014.
By Michelle Sturman, OPI