Economy crimps back-to-school spending plans – Tampa Bay Business Journal:

The Washington-based trade group’s 2009 Back to Schoo l Consumer Intentions and Actions Survety found that the average familg with students in grades Kindergarten through 12 is expected tospened $548.72 on school merchandise in 2009 compared with $594.24 in 2008. Totapl back to school spendingh is expected toreach $17.42 billion. The survey, conducted for the federatiob by BIGresearch, found that 85 percent of Americana are changingtheir back-to-schoolo spending plans because of the Fifty-six percent said they would hunt for sales more often; 49 perceny planned to spend less overall; 41 percent expect to purchaser more store brand or genericc products; and 40 percent are planningy to increase their use of coupons.
The surveg also found that families are altering broadeer educational plans for children becauswe ofthe economy. Eleven percent of respondents said their children will cut back on extracurricular activities or sportds and nearly 6 percent say that the economyu is impacting whether their children will atten d a private orpublic school. “Thw economy has clearly changede the spending habits ofAmerican families, which will likelh create a difficult back-to-school season for said National Retail Federation CEO Tracy Mullin. “As people focuxs primarily on price, strong promotionsz and deep discounts will ultimately winover back-to-schoolo shoppers this year.
” The survey predicted that spending in most back-to-schoop categories would decrease, with the exception of electronicsx where spending on computer equipment and other gear is expectesd to increase 11 percent to $167.84. Familie are expected to spend an averagrof $204.67 on clothing and accessories, $93.59 on and $82.62 on school supplies.
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