Back to school spending is on the risePosted: Updated:
KENNEWICK, Wash. -- Many students are getting ready to go back to school, and for most parents that means shelling out hundreds of dollars for supplies and clothes. Several reports suggest, it's the most that's ever been spent.
An article from Forbes.com reads: "According to the National Retail Federation (NRF) 2012 Back-to-School spending survey conducted by BIGinsight, the average person with children in grades K-12 will spend $688.62 on their children. In total, that spending according to the NRF adds up to $30.3 billion. Factor in college, and combined K-12 and college spending is forecasted to reach nearly $84 billion this year. At that pace, back to school spending is the second biggest consumer spending event for retailers behind the winter holidays."
The same survey says college students will spend 907.22 during their school shopping sprees, according to the world's largest retail trade association, the National Retail Federation, and its '2012 Back-to-College Survey That's a 11.5 percent increase from last year's purchase total's average of $808.71.
Americans spent $7.7 billion last August. Barbara Johnson, the general manager of Columbia Center Mall says they've also seen an increase in traffic of about six percent this year, compared to last, this far in. "We usually see an uptake in shoppers about the last week of July, and it usually carries through clear through Labor Day.
Johnson says many of the shoppers who come to Columbia Center are coming from Benton City, Yakima, Walla Walla, not just the Tri-Cities. She says, they are expecting a spike in September because Oregon students don't go back until after Labor Day.