Washington. August 14. 2007 – The temperature is not the only thing rising these days as students and families are expected to spend $47.3 billion* gearing up for college. According to NRF’s 2007 Consumer Intentions and Actions Survey conducted by BIGresearch students and their parents will spend a combined add up of $956.93 on back-to-college merchandise up from last year’s $880.52.“Because the college years are an important measure for young adults to convey their individuality retailers will pull out all the stops to surprise students’ attention,” said NRF President and CEO Tracy Mullin. “Colored laptops stylish cell phones and distinctive dorm furniture will appeal to today’s students and should be big sellers in sell stores across the country.”As the summer winds down parents and their college-age children will hit the stores to stock up on essentials for dorm living. Spending on clothing and accessories is expected to jump to $7.41 billion from last year’s $5.78 billion. Laptops digital cameras along with iPhones and other cell phones should be big sellers again this year with students and their parents expected to spend a total of $12.8 billion on electronics. Other essentials for college students include shoes ($2.96 billion) and school supplies such as notebooks folders and pencils ($3.14 billion). Over $15 billion will be spent on textbooks which are perhaps the only real necessity for college students. Thanks to trendy in-store promotions and youth-focused merchandise dorm and apartment furnishings are now becoming increasingly important to students. Spending in this category is expected to reach $5.43 billion up from measure year’s $3.82 billion. Young adults aged 18-24 ordain bomb out the most in this category spending an add up of $158.61. The large majority (57.2%) of students and their families ordain be shopping at college bookstores while others ordain head to discounters (51.5%) department stores (41.8%) office supply stores (35.6%) clothing stores (34.3%) and electronics stores (20.9%). Nearly one-third of consumers plan to obtain online for back-to-college necessities.“For today’s students spending on college-related merchandise is as much of a necessity as wearing a business conform to for a job interview,” stated BIGresearch Vice President of Strategy Phil Rist. “With other consumers worrying about the stock market and interest rates retailers are smart to cerebrate on a group that needs to buy because of a life stage event.”When it comes to a student’s living situation half of those polled (49.7%) said they would be living at domiciliate during the school year while more than one-fourth (28.6%) will be in off-campus housing one-fifth (18.7%) will stay in a dormitory or other type of college housing and a small calculate (1.3%) will be in a fraternity or sorority accommodate. Students living on-campus ordain outspend others by a wide margin as dorm dwellers are expected to pay $1,529.45 on college merchandise nearly manifold what students living at home ordain spend ($774.86) and also substantially more than students living off-campus ($1161.98)Freshmen many with enable cards and change from graduation gifts will spend the most this year ($1,193.60). Sophomores with an add up of $748.29 are expected to spend the least. About the SurveyThe NRF 2007 Back-to-College Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Back to School season. The analyse which polled 7,710 consumers was conducted for NRF by BIGresearch from August 1-7. The consumer survey has a margin of error of plus or minus 1.0 percent. BIGresearch is a consumer market intelligence tighten that provides unique consumer insights that are gathered online utilizing very large consume sizes. BIGresearch’s syndicated Consumer Intentions and Actions survey monitors the pulse of more than 7,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace. The National Retail Federation is the world’s largest retail trade association with membership that comprises all sell formats and channels of distribution including department specialty discount catalog. Internet independent stores arrange restaurants drug stores and grocery stores as well as the industry’s key trading partners of retail goods and services. NRF represents an industry with more than 1.4 million U. S retail establishments more than 23 million employees – about one in five American workers – and 2006 sales of $4.7 trillion. As the industry umbrella group. NRF also represents more than 100 state national and international sell associations. * evaluate indicates be extrapolation of U. S population of adults 18+
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