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In recent years back-to-college bound students have been a life vest for many retailers and this year college students and their parents will be spending over 80-billion dollars.
"Total spending for K-12 schools and college combined is projected to reach $82.8 billion this year, 2018," reports the National Retail Federation.
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With the economy thriving thanks to tax reform and growing consumer confidence, we expect to see a very strong season,” NRF President and CEO Matthew Shay said. “College spending is expected to be at its highest level ever, and back-to-school will be one of the three highest years on record.
College and Graduate Students
Those with young people heading to college as well as college and graduate students purchasing for themselves plan to spend an average $942.17 each, down from last year’s $969.88 for a total of $55.3 billion. That’s an all-time high in the history of the survey, up from last year’s previous record of $54.1 billion.
According to the survey, back-to-school shoppers plan to spend the most on clothing ($236.90). In addition to apparel, back-to-school shoppers also plan to spend:
$187.10 on electronics such as computers, calculators or phones
$138.66 on shoes
$122.13 on supplies such as notebooks, pencils, backpacks, and lunchboxes