College freshmen will spend an average of $1,200 on school supplies as they head off to campus this fall.
More than half ($760) is earmarked for electronics, according to the National Retail Federation’s Back-to-College Consumer Intentions and Actions Survey.
College juniors—many moving off-campus for the first time—will spend an average $812, with $278 of that pegged for furnishings. College sophomores will spend and average $445; seniors, only $425, NRF said.
In all, parents and college students will spend $25.7 billion on supplies: $7.5 billion on electronics, $8.8 billion on textbooks, $3.2 billion on clothing and accessories, $2.6 billion on dorm or apartment furnishings, $2.1 billion on school supplies and $1.5 billion on shoes.
Total elementary and high school spending is only $14.8 billion, NRF reported.
Washington, DC-based NRF conducted its second annual survey with BIGresearch, polling 7,443 consumers Aug. 4-11.
Separately, youth marketing shop Buzz Marketing Group and financial services firm Bear Stearns, both New York City, convened a focus group of 15- to 21-year-olds. They found that high school and college students plan to spend $300-$500, but not all at once: They’ll save some money until after school starts so they can see what other kids are wearing.
Half of teen reported that price is their top priority, over quality and fashion. Most prefer to shop mass-merchandisers; 90% prefer Target to Wal-Mart or Kmart.
Network
