More Than Beer and Pizza: Back-to-College Sales Expected to Exceed $47 Billion
The end of summer and the return of college students is a welcome sight for marketers. Students and families are expected to spend $47.3 billion in back-to-college purchases this year, according to a recent National Retail Federation’s 2007 consumer intentions survey, conducted by BIGresearch. Here are some of its findings:
* Students and parents are expected to spend a combined average of $956.93 on back-to-college merchandise, up from last year’s average of $880.52;
* Spending on textbooks will exceed $15 billion;
* Spending on clothing and accessories is expected to jump to $7.41 billion, up from last year’s $5.78 billion;
* Students and parents are expected to spend $12.8 billion on such electronics items as laptops, digital cameras, iPhones and other cell phones;
* Shoe sales are expected to hit $2.96 billion;
* General school supply sales will reach $3.14 billion;
* Dorm and apartment furnishings are expected to account for $5.43 billion in sales, a substantial increase over last year’s $3.82 billion;
* Students living on campus are expected to spend the most ($1,529.45 on average), followed by students living off campus ($1,161.98) and living at home ($774.86); and
* Freshman, with an average of $1,193.60, will spend the most this year, while sophomores ($748.29) are expected to spend the least.
As to where these students and parents are choosing to spend their money:
* Nearly one-third plan to shop online;
* 57.2 percent said they will be shopping at college bookstores;
* 51.5 percent at discounters;
* 41.8 percent at department stores;
* 35.6 percent at office supply stores;
* 34.3 percent at clothing stores; and
* 20.9 percent at electronics stores.
For more information, go to www.bigresearch.com .