BTS 2013 not expected to live up to 2012
HTT Staff -- Home Textiles Today, 7/18/2013 2:10:35 PM
Washington - Last year's Back-to-School season was record-setting thanks to long-delayed consumer spending - which is why the National Retail Federation is expecting BTS sales to cool off this year by comparison.
According to NRF's 2013 Back-to-School Survey conducted by Prosper Insights & Analytics, families with school-age children will spend an average $634.78 on apparel, shoes, supplies and electronics, down from $688.62 last year. Total spending on back-to-school is expected to reach $26.7 billion.
Total BTS and Back-to-College spending combined will reach $72.5 billion. Detailers about the nearly $46 billion NRF estimates will be spent on Back-to-College shopping - which includes dorm accessories such as bed linens and bath items - will be announced separately in the near future.
"The good news is that consumers are spending, but they are doing so with cost and practicality in mind. Having splurged on their growing children's needs last year, parents will ask their kids to reuse what they can for the upcoming school season." said NRF president and ceo Matthew Shay.
Shoppers are looking to "cut corners where they can, but will buy what their kids need. It's important to note, however, that spending levels are still well above where they were a few years ago," he added.
The biggest portion of back-to-school budgets will go toward new apparel and accessories: 95.3% of those with school-age children will spend an average of $230.85 on sweaters, denim and other attire. Additionally, families will spend on shoes ($114.39) and school supplies ($90.49).
Fewer families with children in grades K-12 will purchase electronics (55.7%), and those that are going to invest in a new tablet or smartphone are going to spend slightly less than last year ($199.05 vs. $217.88 in 2012).
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