Back-to-School Budgets to Shrink This Year, National Retail Federation Survey Says
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After boosting back-to-school spending in 2014, families will be more selective this year and restock only items they really need, according to a survey released today by the National Retail Federation. That information conflicts with survey data released yesterday by the International Council of Shopping Centers.
Families with children in kindergarten through 12th grade plan to spend an average of $630.36 on electronics, apparel and school supplies this year, down from a projected $669.28 in 2014, according to the survey, which was conducted for the NRF by Prosper Insights & Analytics.
College shoppers and their families will also be tightening the purse strings. They plan to spend an average of $899.18 on back-to-college items such as dorm furnishing, electronics, apparel, food and school supplies, down from a projected $916.48 last year, the NRF survey found.
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