Consumer Watch: Back-to-school spending

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by WHAS11

WHAS11.com

Posted on July 19, 2012 at 4:34 PM

(WHAS11) -- Your kids may not be excited about the prospect of heading back to school soon, but retailers are. Despite three straight months of slumping sales, retailers have an optimistic forecast for what they say is the second biggest shopping season of the year.

The National Retail Federation's annual survey of back-to-school shoppers finds the average person with school-age children will spend $688.62, up about $85 from last year, for a total of more than 30 billion dollars in retail sales. 

“When you think about how much people are spending, a lot of them have tried to make do with what they had over the last several years and they want to make sure that their kids have everything they need to go back to school,” said Ellen Davis from the National Retail Federation.
 
The bulk of back-to-school money will be spent on clothing, about $246, followed by electronics, $217. The amount spent on shoes is expected to be just over $129 and about $95 spent on supplies.

Retailers hope a robust back-to-school season can snap a three-month streak of declines in sales, as consumers remain cautious.
 
Half of those surveyed said they'll be seeking discounts. Retailers say they'll find plenty in-store and on-line. 

Still, back-to-school and back-to-campus shoppers are expected to spend a combined $83.8 billion this year, a buying season retailers say ranks second only to the winter holidays.
 
If you have a consumer issue you’d like WHAS11 to look into send an e-mail to consumerwatch@whas11.com.
 

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