Students and families are expected to spend $47.3 billion, an average of $957 per student, on items such as laptops, textbooks, dorm furnishings and clothes in preparation for the upcoming fall semester, according to estimates released by National Retail Federation today.
Overall, NRF expects a 29 percent increase over the estimated $36.6 billion spent in 2006, with increases in all categories. The largest growth will likely be seen in purchases of dorm and apartment furnishings, which are expected to jump 42 percent from $3.82 billion to $5.43 billion.
For students who live in on-campus housing, the average cost will be between $1,400 and $1,600, according to the survey. Apartment-dwelling students will spend between $1,000 and $1,200 while those living at home will likely spend $600 to $800 getting ready for school.
Marketing products specifically for dorm rooms is a “relatively new trend,” said Kathy Grannis, a NRF spokesperson. “Retailers have recognized how big of a market (students) are. By attracting college students into their stores, they gain customers — hopefully for life.”
Retailers echoed this sentiment.
“We have parents who are longtime customers now coming in with their children shopping for college, (students) who stay with us, and come back to furnish their first apartment,” said Olescia Anderson, spokesperson for The Container Store.
“College dorm rooms haven’t changed from 20 or 30 years ago, but students are trying to bring more things with them every year,” Anderson said. Although exact figures couldn’t be released, she said sales and demand for college items, such as those designed to maximize space, have grown over the past few years.
Electronics products, including laptops, printers, MP3 players, and cell phones, are also hot commodities. Sales in electronics and computer-related equipment are expected to increase to $12.77 billion from $10.46 billion.
There’s definitely been an increase in demand in the computer market over the past few years, as computers become faster and cheaper, according to Jonathan Felts, manager of the Best Buy store in Falls Church. Laptops are popular for students at commuter schools in the area, he said, while students living on-campus also need small appliances and furniture.
Felts noted that the back-to-school period is the store’s biggest sales season behind the winter holiday. Grannis agreed, adding it was true for the whole retail industry, taking into account college and pre-college sales.
