The average U.S. household plans to spend $590 on back-to-school clothes and supplies, according to a survey by Brand Keys.
The New York City-based consultancy reports that it anticipates a 7% annual increase in overall back-to-school spending that will likely approach $18 billion in 2007. “That is a little higher than we’ve seen in the past few years,” said Robert Passikoff, Brand Keys president.
A random phone sample of 7,500 households indicated the average household spend by category would be: clothing, $265; computers, $230, up 10% over last year; supplies, $100 (+5%), books, $25 (+14%) and shoes, $115 (+15%). The increase in shoe spending is due to shifts in footwear styles every few years, Passikoff said.
The survey pointed to a whopping 40% jump in the projected share of preferred shopping venue for the Internet, where 35% of the spending is expected to be done, with catalogs taking a 15%, representing a 15% jump for that venue. “That’s the effect of higher gas prices,” Passikoff said.
He noted that the 7% drop in preference for shopping in discount stores to 70% from 77% a year ago was the first time that category has decreased. Preference for department stores rose by 20% to 60%, based largely on product selection, according to Passikoff. Preference for shopping at specialty outlets (40%) and office supply stores (45%) remain unchanged from last year.
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