Back-to-school and back-to-college is one of the biggest times of the year for the footwear and apparel industries. This year it looks like parents are planning to open their wallets once again, but are doing so with a big eye on savings.
According to the National Retail Federation’s annual back-to-school survey, which was released today, families will spend $68 billion in getting kids and teens off to school and university. For households with K-12 kids, spending is going to fall to $630.36. Last year, families spent $669.28.
While spending overall is going down this year, the NRF says it’s because so many families spent last year and don’t need to replenish as often.
This year 91.2 percent of adults plan to spend an average of $128.97 on new footwear. The NFR estimates that shoe spending will hit $4.64 billion during back to school. For apparel, 92.7 percent of adults will buy their children new clothes spending on average $217.82.
Here are other key takeaways:
– 62.2 percent of shoppers plan to get back to school items at discount stores, followed by department stores and clothing stores.
-Free shipping and pick-up in store are the two biggest drivers for online shopping.
-Most families do their BTS shopping one week to one month out from the start of school.
-Over 40 percent of BTS shoppers impacted by the economy plan to do their shopping around sales.
-Tablet computers are most used to rearch and comparison shop during back to school shopping.