How Much the Average Family Will Spend On School Supplies

by William White | July 18, 2013 2:33 pm

Parent aren’t looking to spend as much this year oniStock 000004031407XSmall2 e1281724113505 How Much the Average Family Will Spend On School Supplies[1] school supplies.

According to a survey done by the National Retail Federation, families with children that will be attending school this fall, only plan to spend an average of $634.78[2]. This is down from last year’s $688.62, and puts the estimated total amount spent this year at $26.7 billion.

“The good news is that consumers are spending, but they are doing so with cost and practicality in mind,” Matthew Shay, NRF President and CEO, said in a statement. “It’s important to note, however, that spending levels are still well above where they were a few years ago.”

College students and their parents are trimming down this year as well. Families are expected to spend on average $836.83 for college supplies this year. Last year families preparing for college spent an average of $907.22. This year’s total spending on college supplies is estimated at $45.8 billion, reports National Retailers Association.

Walmart (WMT[3]) is preparing for the decline by offering low prices [4]all through the back-to-school buying period, as compared to some retailers that use a strategy of raising and lowering prices during back-to-school shopping periods. The company will offer over 250 items all priced below $1 in an effort to attract shoppers.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2010/08/iStock_000004031407XSmall2-e1281724113505.jpg
  2. an average of $634.78: http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=1626
  3. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  4. offering low prices : http://www.usatoday.com/story/money/personalfinance/2013/07/16/walmart-back-to-school-online-shopping-teachers/2521231/

Source URL: http://investorplace.com/2013/07/how-much-the-average-family-will-spend-on-school-supplies/
Short URL: http://invstplc.com/1nvAo9Q