Consumer Watch: Back-to-school spending

Print
Email
|

by WHAS11

WHAS11.com

Posted on July 24, 2013 at 4:30 PM

(WHAS11) -- Summer is in full swing but a new survey shows that for about one-in-four families, back-to-school and back-to-college shopping is already underway. If your list of purchases includes tablets, laptops, and Smartphones, you may find some of the best deals of the year. Good Morning Kentuckiana’s Andy Treinen has today’s Consumer Watch.

There are plenty of summer days still ahead, but retailers are already eyeing the fall return to classrooms and to campus. While the bulk of back-to-school dollars will go towards new clothes and accessories, a survey finds more than half of families will buy electronics, ringing up about $8.4 billion in sales.

“Spending on tablets and Smartphones and tablets is more synonymous with back-to-school than ever before,” Kathy Grannis from the National Retail Federation, said. The biggest chunk of a household's back-to-college budget, electronic devices.  “Parents want to make sure that their children have the Smartphones and tablets they need for the upcoming school year, perhaps because they know that keeps children off of their devices,” Grannis, said.

The National Retail Federation found overall back-to-school and back-to-college spending is expected to drop versus last year, as consumers weigh spending decisions more carefully. With that in mind, retailers may price accordingly. “Retailers will actually offer great promotions on tablets this year, and for parents that are looking for a good deal, this is a great time to invest in those types of devices, maybe along the lines of deals we see during the Christmas season," Grannis, said.

Two-thirds of shoppers will hit discount retailers for their purchases, but nearly four in ten will do shopping through online and mobile channels. If you have a consumer issue you’d like us to look into send an e-mail to: consumerwatch@whas11.com.

Print
Email
|