Back-To-School Spending to Rise

Consumers plan to spend more on back-to-school shopping this year, according to a National Retail Federation survey conducted by Prosper Insights & Analytics. The survey revealed the average family with children in grades K-12 will spend $669.28 on apparel, shoes, supplies and electronics.

The figure would represent a 5 percent increase from last year’s spending average of $634.78 per family. Total back-to-school spending is expected to amount to $26.5 billion, according to NRF, a slightly lower figure than 2013, as there are fewer K-12 children in households this year.