2018 School Year Could See Record Spending for Back to School
With school being back in session this week for most students, this year is expected to be one of the highest back to school spending years in record history. According to the National Retail Federation, the total spending for K-12th grade and college is expected to be more than $82 billion this year. Families are expected to spend at least $680 for back to school. That’s roughly $230 on clothing, $187 on electronics, $122 for school supplies, and $138 on shoes.
For college students, their biggest expenses are projected to be electronics, furniture, and clothing. Most families are expected to do most of their shopping from online retailers. This year’s findings also showed that pre-teens and teenagers are more likely to spend some of their own money from summer job earnings.