Home / Knowledge / News / Apparel/Garments / US consumers may cutback on 'Back to School' 2013 spending
US consumers may cutback on 'Back to School' 2013 spending
19
Jul '13
A combination of pent-up demand and a growing population of school children put 2012 back-to-school spending in the history books, leaving parents in 2013 with an array of school supplies that still work, and a significantly shorter shopping list.

According to NRF’s 2013 Back-to-School Survey conducted by Prosper Insights & Analytics, families with school-age children will spend an average $634.78 on apparel, shoes, supplies and electronics, down from $688.62 last year. Total spending on back-to-school is expected to reach $26.7 billion.

Total back-to-school and back-to-college spending combined will reach $72.5 billion.

“The good news is that consumers are spending, but they are doing so with cost and practicality in mind. Having splurged on their growing children’s needs last year, parents will ask their kids to reuse what they can for the upcoming school season.” said NRF President and CEO Matthew Shay.

“As they continue to grapple with the impact of increased payroll taxes, Americans will look to cut corners where they can, but will buy what their kids need. It’s important to note, however, that spending levels are still well above where they were a few years ago.”

The biggest portion of back-to-school shoppers’ budgets will go toward new apparel and accessories: 95.3 percent of those with school-age children will spend an average of $230.85 on fall sweaters, denim and other chic pieces of attire. Additionally, families will spend on shoes ($114.39) and school supplies ($90.49).

Fewer families with children in grades K-12 will purchase electronics (55.7%), and those that are going to invest in a new tablet or smartphone are going to spend slightly less than last year ($199.05 vs. $217.88 in 2012).

Eight in 10 back-to-school shoppers will adjust spending plans because of economy

It’s clear the economy is still weighing heavy on the average family’s mind; the survey this year found eight in 10 school shoppers (80.5%) say economic conditions will change their spending in some way. Turning to the Internet to save money, 36.6 percent say they will do more comparative shopping online and 18.5 percent will shop online more often.

Back-to-school shoppers already out and about

According to the survey, families are already out and about shopping for school items: 23.9 percent of families with children in grades K-12 say they will begin shopping at least two months before school (i.e. right now), up from 22.3 percent last year and the highest percentage seen in the survey’s 11-year history.

Half (49%) will shop three weeks to one month before school, 21.8 percent will shop one to two weeks before school, 2.8 percent will shop the week school starts, and 2.6 percent will shop after the start of the season.

“We continue to see a shift in shopping patterns during big spending ‘events’, where consumers typically head out early to take advantage of fresh inventory options and initial markdowns, then see a lull only to rev back up again when final sales appear,” said Prosper Consumer Insights Director Pam Goodfellow.

“Hoping to spread out their budgets but still reap the benefits of getting the products their children want, parents this back-to-school season will comparison shop online and around town at their child’s favorite stores, potentially even more than once, as they seek to find bargains and products that offer the best value.”

Click here to view more

National Retail Federation

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search