According to a consumer-spending poll from The NPD Group, back-to-school spending is expected to remain about flat with last year, with 80% of consumers spending $500 or less per child. On average, consumers said they will spend $372 this year per child, which is slightly higher than last years $367.
“Overall, this back-to-school season wont be the 'doom and gloom' some people are predicting,” said Marshal Cohen, chief industry analyst, The NPD Group.
This year, back-to-school season came earlier than last year, as retailers put their best back-to-school programs into action by mid-July. Those incentives sent 10% more consumers than last year into the stores before August 1.
School supplies, apparel and apparel accessories, and footwear will be big sellers this back-to-school season. “Denim will continue to be the staple item found in everyones shopping bags. With prices for electronics declining, consumers will get to spend a little more on apparel this year, while unit demand for computers, digital cameras and cell phones will continue to be strong,” said Cohen.
Mass merchants, such as Target and Wal-Mart, continue to rule the school as consumers top choice for back-to-school shopping, followed by apparel specialty stores that cater to young adults and teens.
According to the NPD poll, “value” is the main purchase influencer when it comes to this years back-to-school season, followed by “required by school”, “child wanted it”, “replacement item”, and “fashionable and trendy.”
“The quest for value remains very high on the reason-to-purchase list, due to the increase in fuel prices and the impact it has on the mid-to-lower income brackets,” said Cohen.
