Is it too soon to talk about school?
Well, one survey suggests that consumer spending for school supplies and clothes will jump in the coming months.
The average person with children in grades K-12 is predicted to spend $688.62 on their children this year, up about 12 percent from last year, according to a survey and analysis for the National Retail Federation by BIGresearch. The survey included 8,509 respondents and was conducted in July.
Total spending by parents for children in grades K-12 is expected to be $30.3 billion.
Not surprisingly, a large majority of the consumers with school-aged children surveyed -- 84.8 percent -- said the economy will be a factor in how they shop.
Parents surveyed said they would spend the most on three things this summer as September approaches: clothing, accessories, and electronics.
The survey found that the average person with children in grades K-12 will spend $246.10 on clothes, $217.88 on electronics, $129.20 on shoes, and $95.44 on school supplies -- such as notebooks, pencils and backpacks.
In addition, about six in 10 people said they would invest in some sort of electronic device, according to the survey. This is up from 51.9 percent who planned to buy an electronic device last year.
While it is still July, many of the people surveyed said they will begin shopping earlier than they did last year for children in grades K-12. Nearly half of those surveyed said they are planning to begin shopping three weeks to one month before school starts, which is up from 42.4 percent last year.
And let’s not forget about college students. Families with college students are expected to spend an average of $907.22 this year, up almost 11 percent from last year.
These students and their families also will begin shopping earlier than last year, according to the survey. About one-third, 31.9 percent, are planning on shopping for school three weeks to one month before school begins, also slightly up from last year.
For college-aged students, nearly three out of four will spend an average of $132.97 on clothes and accessories, and more than half will spend an average of $216.40 on electronics.
The survey also found that of those questioned, fewer college-aged students will live at home this year: 42.9 percent compared to 52.9 percent last year.
What do you think about the survey? Vote below.