More News
INCBIZNET PR WIRE
More PR Wire | Send Your Press Releases
INCBIZNET BLOG
More Blogs | Feature Your Blog
 |
|
|
|
|
||
Sponsored Sections
Back-to-School Spending to Hit $18 Billion
EMAIL THIS ARTICLE
PRINTER FRIENDLY
COMMENT ON THIS ARTICLE
BUY A REPRINTDriven by higher demand for consumer electronics, retailers are expecting consumers to spend $18.4 billion on back-to-school merchandise this summer, up by 6.9 percent from last year, the National Retail Federation reported this week.
The report, based on a survey of more than 8,000 consumers, anticipates families with school-age children to spend $563.49 each, compared to $527.08 in 2006. About $129.24 on average will go toward buying iPods, cell phones, laptops, and other consumer electronics -- a 13 percent increase from last year and the single biggest growth category, the report said.
Despite those gains, most spending will continue to go into clothing and accessories, representing nearly half of all spending, the report said.
"Electronics have evolved from luxuries to necessities, not only for college students but also for their younger siblings," Tracy Mullin, the group's president and CEO, said in a statement.
-next-
« Get more advice every month. Click here to subscribe to Inc. magazine!
