The average household expenditure on all types of back-to-school items is expected to be about $285 this year, which is an increase over last year for 39 percent of those surveyed, says ICSC, a global trade association for the shopping center industry. Forty-five percent plan to spend the same amount as last year, while only 17 percent indicated they would spend less. Of the 42 percent of consumers that plan to increase spending, nearly three-fifths indicated that the bulk of their shopping will be to replace wardrobes and school supplies.
"Consumers typically view back-to-school merchandise as essential expenditure, which is likely a key reason that so many consumers plan to increase spending this year," said Michael P. Niemira, ICSC vice president of research and chief economist. "However, this year consumers plan to do considerably more of that shopping at discount stores (90 percent vs. 83 percent in 2012) than anywhere else followed by office supply (44 percent) and traditional department stores (41 percent)."
Not surprisingly, and consistent with previous surveys, the number one item that consumers need for the coming school year is school supplies (89 percent), followed by apparel (79 percent).
The ICSC-Goldman Sachs consumer tracking survey was conducted by Opinion Research Corporation between July 12 and July 15, 2013.
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 60,000 members in over 90 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.
Timely, incisive articles delivered directly to your inbox.