U.S. Shoppers Increase Back-to-School Buys

Back-to-school spending will average $300 per household this year, according to a consumer survey from ICSC-Goldman Sachs. While 42 percent of shoppers say they’ll spend more, an equal percentage plan to spend the same amount as last year. Fourteen percent of shoppers surveyed by the shopping center trade association said they plan to spend less this year than in 2011.

“Despite the relatively soft economic conditions over the last quarter, consumers view back-to-school merchandise as essential, which is likely a key reason that so many consumers plan to increase spending this year,” says Michael P. Niemira, ICSC’s vice president of research and chief economist. “Even more encouraging for retailers is that nearly 20 percent of respondents plan to increase spending by more than 10 percent compared to the 2011 season.”

The most common items consumers plan to buy are school supplies and apparel, with discount stores, office-supply stores and department stores the most common planned shopping destinations.