Survey: College back-to-school spending up 13% over last year
With college kids returning to campus, back-to-dorm spending is on track to make a bigger but later splash.
A recent survey from the National Retail Federation shows college students and their families expect to spend $1,200.32 on back to-school items, a 13% increase from last year.
Overall, college spending is expected to hit $71 billion, up from $67 billion last year.
The survey showed that most of that increase is coming from more spending on electronics and dorm furnishings.
Still, consumers are putting off their purchases, with 68% of survey respondents planning to wait to shop until three weeks before school starts.
Experts say the spending delay comes as college kids continue to juggle a full summer schedule and weigh pandemic-related uncertainty.