According to a survey by the National Retail Federation, back- to-school college spending is dropping this year, while grade school K-12 spending is rising.
The average family with school-aged kids will spend $594.24 on back-to-school purchases, compared to $563.49 last year, and K-12 spending will total about $20.1 billion, a significant increase.
Parents of younger kids will spend $151.61 on electronics for school up from $129.24 last year $234.51 on clothing, $109.75 on shoes, and $98.37 on school supplies.
College kids will drop a lot less cash this year on fly gear, spending $134.40 on clothes versus $149.85 last year, $90.90 on dorm furnishings, and $58.46 on shoes.
Due to the tight economy, 73 percent of consumers will go to discount stores for their school goodies, and 20 percent will use their stimulus checks to pay for stuff.
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