Back-To-School Household Spending Projected to Increase Nearly 7% in 2016

The National Retail Federation (NFR) recently published its annual back-to-school consumer spending survey, which was conducted by Prosper Insights & Analytics.  The survey is conducted each year to determine when, where and how American families will shop for school and college supplies.

Highlights of the survey include the following:

• Household spending is projected to increase nearly 7% in 2016, to $674 per household
• Total spending in 2016 is expected to reach $75.8 billion
• Discount stores and department stores will have the most back-to-school shoppers
• Online sales are expected to see the largest increase over 2015, with a nearly 30% increase year-over-year
• 80% of shoppers will take advantage of free shipping
• 35% of household spending will be on clothing and accessories
• 30% of household spending will be on electronics
• Shoppers in 2016 are expected to get an early jump on their shopping, with 73% of shoppers planning to shop a month or two before school starts
• Back-to-school shopping is the second-biggest consumer spending season, only behind the winter holiday season

For more information, or to view the full results of the survey, visit the NRF's website. 

Contact us with questions regarding the NFR back-to-school consumer spending survey and visit the Our Thoughts On blog for more articles pertaining to the retail industry.