BY THE DOLLARS: Back-to-school spending up
Friday, August 24, 2012 7:00 AM
The National Retail Federation (NRF) estimates that parents will spend 14 percent more this year on back-to-school spending than they did last year. Combined K-12 and college back-to-school spending will reach $83.8 billion, making it the second-biggest consumer spending event for retailers behind the winter holidays. NRF’s 2012 Back-to-School and Back-to-College spending surveys polled 8,509 consumers July 2 through 9. . Nearly six in 10 respondents said they will invest in some sort of electronic device, an increase from the 51.9 percent who planned to do so last year. The consumer polls have a margin of error of plus or minus 1 percent.
The average amount a person with children in grades K-12 will spend this year, up from $603.63 last year.
The average amount parents estimate they will spend on clothes.
The average amount parents believe they will spend on electronics.
The average amount parents believe they will spend on school supplies, including notebooks, pencils and backpacks.