Families Trim Back-to-School Spending for 2015
After spending more on school supplies and electronics in 2014, parents this year will head into the back-to-school season evaluating what their children really need before spending on new items. According to the National Retail Federation's Back-to-School Spending Survey conducted by Prosper Insights & Analytics, the average family with children in grades K-12 plans to spend $630.36 on electronics, apparel and other school needs, down from $669.28 last year. Total spending is expected to reach $24.9 billion. Additionally, indicating the continued growth in the back-to-school arena, families on average have spent 42 percent more on school items over the past 10 years.