DETROIT – A survey found families with students will spend $82.8 billion on school shopping this year, which includes both K-12 and college spending.
The National Retail Federation’s annual survey, published Thursday, July 12, found most families will spend an average of $684.79 each for their elementary through high school students. Last year, families spent an average of $687.72.
The biggest part of the back-to-school budget for K-12 will go to clothes, with the second highest amount spent of electronics.
College and graduate students should expect to spend even more- $942.17 each for a total of $55.3 billion.
77 percent of K-12 shoppers plan to start back-to-school shopping at least three weeks before school begins; 67 percent of college shoppers will start shopping that early; however, most plan to wait for the best deals to complete their lists.