Date Posted: 09/02/21
NCP Blog: It’s Back-To-School Time
Wow, I can’t believe it, but it’s almost time to go back to school. (At least where we live in New York. I know other parts of the country have already been back to school for a few weeks.)
And of course, back-to-school time means back-to-school shopping! Our family is almost finished with our shopping. We bought new clothes and much of the needed supplies.
What about you? Did your kids, or grandkids, already start school? If so, how did you do with their shopping? If your kids haven’t started school, have you made much progress on your back-to-school shopping?
How Much Is Being Spent On Back-To-School Purchases?
So how much are people spending for back-to-school-related items?
According to the National Retail Federation, families with children in elementary through high school plan to spend an average of $848.90 on school items, which is $59 more than last year. Total back-to-school spending is expected to reach a record $37.1 billion, up from $33.9 billion last year.
Meanwhile, according to the NRF, college students and their families plan to spend an average of $1,200.32 on college or university items, an increase of $141 compared with last year. Over half ($80) of this increase is due to increased spending on electronics and dorm furnishings. Total back-to-college spending is expected to reach a record $71 billion, up from $67.7 billion in 2020.
Related Links
Back To School … Already?! (August 24, 2018)