NRF: Back-to-school spending grows
CHARLESTON, S.C. (WCIV) -- After scaling back their back to school shopping budgets last year, parents are replacing and replenishing what their children might have had to "make-do" with last school season, according to the National Retail Federation (NRF).
CNN reports that the NRF's Back-to-School spending survey, by BIGinsight, indicated that the average person with children in grades K-12 will spend $688.62 on their children, up from $603.63 last year. Total spending is expected to reach $30.3 billion."When it comes to their children, there's nothing more important to a parent than making sure their children have everything they need, even in a tough economy - and especially when it comes to back-to-school shopping," NRF President and CEO Matthew Shay told CNN. "Backpacks rip, pencils break, and children grow, there's no way around it, but as they begin tackling their shopping lists, parents will make sure to spend smarter than they ever have before. "
According to the NRF, parents will spend the most on clothing, accessories and electronics.