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Back-to-school spending to leap The average family is preparing to spend over $500 on back-to-school items this fall, according to a new survey by the National Retail Federation. NEW YORK (CNNMoney.com) -- Back-to-school spending will see a big leap this year, with the biggest growth in electronics and apparel purchases, according to a new study. The average family is likely to spend $527.08 this year, up from $443.77 in 2005. Total spending is estimated to reach $17.6 billion, up from $13.4 billion last year, according to the National Retail Federation.
Electronics and computer-related purchases are expected to jump by $1.5 billion from last year, 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." Related: Target slashes July sales views |
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