K–12 Spending Down, College Grows Up
By Staff -- Gifts & Decorative Accessories, 6/1/2006
Back-to-school spending may be on the decline, down to $13.39 billion from $14.79 billion, according to National Retail Federation forecasts for 2005. But most of the loss is in the electronics category: clothes shoes and school supplies remain strong. Discount stores claim the lion's share, with more than three-quarters of parents planning to shop there, but specialty stores aren't out of the running: 18.8 percent of parents consider them back-to-school destinations. Better yet for specialty retailers: back-to-college spending is up to over $34.4 billion, and $3.6 billion of that is for apartment furnishings. Proximity to campus is an important decision factor for these shoppers, so stores in or near college towns should target promotions to freshmen.
