Back-To-School Spending Boost?
Despite the economic slowdown, back-to-school spending is expected to increase by eight percent this year, according to a survey released this week by the Marketing to Moms Coalition.
The average U.S. household is expected to spend an average of $484 on school supplies, new clothing and electronics, up from $449 last year, the Chicago-based industry group reported.
Of some 420 mothers surveyed, 85 percent said they planned to do their back-to-school shopping at Target, Wal-Mart and other large retailers. Another 42 percent plan to shop at dollar stores, while about 25 percent expected to buy some items online, citing Wal-Mart and Amazon as the most popular sites.
According to the National Retail Federation, the nation's back-to-school spending topped $18 billion last year. The Washington D.C.-based trade group will release its own forecast next week.