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What will back-to-school look like in 2016?

July 22, 2016Written by George Anderson

Photo: Walmart

Consumers, feeling better about their personal finances and the state of the economy, plan to spend more on apparel, electronics and supplies for this year’s back-to-school and college season, according to a series of reports released this week. In a phone conference yesterday, Ellen Davis, vice president of research and strategic initiatives at the National Retail Federation (NRF), described the results of this year’s back-to-school and college survey conducted by Prosper Insights & Analytics as a return to “normal” spending patterns following a 2015 season when many made do with what they had. Total spending for back-to-school and college is expected to reach $75.8 billion this year, up from $68 billion in 2015. The increase is largely due to more consumers being in the market for purchases this year. The average amount being spent for K-12 students is expected to grow to $673.57, up from $630.36 in 2015. Spending per college student is expected to decrease slightly from last year’s $899.18 to $888.71. While consumers have been taught to wait out retailers in search of better deals, NRF found that many are planning to take care of their back-to-school shopping early this year. Seventy-three percent of families say they will shop a month or more in advance of the start of classes this year, versus 62 percent in 2015. Twenty-two percent plan to wait until the last week or two compared to 30 percent who answered the same for last year’s survey. A lot more purchases are likely to be made online this year with 46 percent of parents telling NRF they plan to go the e-commerce route compared to 36 percent who answered the same in 2015. Fifty-four percent said they would opt to buy online and pick up in stores, while 89 percent are looking for free deliveries right to their doors. Others releasing back-to-school reports include RetailMeNot, which found that 86 percent of parents plan to shop for back-to-school with 42 percent planning to spend between $100 and $500. Twelve percent plan to spend more than $500, according to the study. Another survey conducted for Retale found that 85 percent of parents plan to use their smartphones to help them shop. That’s up from 78 percent in last year’s survey.

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