2013 Back-to-School and College Sales Forecast
According to the National Retail Federation's back-to-school and college surveys by Prosper Insights and Analytics, most families plan to make sure their children have everything they need when purchasing children's back-to-school and college items this year. Families also intend to shop for store or generic brands to save money and re-use items that are still in good condition. Back-to-school shopping is the second highest spending event in the U.S. behind the winter holidays.
The Prosper Insights and Analytics Back to School Survey forecasts the average Midwest family with school-aged children will spend $610.18 on back-to-school purchases this year.
Nationally, the combined average forecasted for back-to-school spending was $634.78 per family this year, down from the 2012 average of $688.62 for 12th grade and lower.
Nationwide, total back-to-school spending for Kindergarten through 12th grade is estimated to reach $26.7 billion and back-to-college spending is expected to reach $45.8 billion dollars, totalling $72.5 billion for both.
The Midwest total combined spending forecast for 2013 back-to-school purchases was lower this year at $610.18 per family than the national combined average at $634.78. The types of back-to-school items Midwest parents expect to spend the most on are clothing and accessories ($240.67), electronics ($161.53), shoes ($115.06), followed by school supplies ($92.92).
According to the survey, over half of Midwest parents are planning to start back-to-school and college shopping early to spread out spending across a greater time period. Many Missouri parents may start shopping the weekend of August 2 through August 4, 2013 to take advantage of the state’s annual sales tax holiday on many types of back-to-school clothing, computers and supplies.
Average college spending nationwide is forecasted to decrease to $836.83 per family. College students plan to make use of last year's items and to save by shopping for Store Brand or Generic items and also by comparison shopping online.
Sources: National Retail Federation, Prosper Insights & Analytics Survey