Survey: After splurging in 2014, families trim back to school spending for 2015

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KNOXVILLE (WATE) – After spending more on school supplies and electronics in 2014, a recent report shows the average spending on back to school items has grown over the past decade.Click here to read the complete survey. 

According to the National Retail Federation, Back-to-School Spending Survey conducted by Prosper Insights & Analytics, the average family with children in grades K-12 plans to spend $630.36 on electronics, apparel and other school needs, down from $669.28 last year.

Total spending is expected to reach $24.9 billion, according to the report. Additionally, indicating the continued growth in the back-to-school arena, families on average have spent 42 percent more on school items over the past 10 years.

The survey found 76.4 percent of families with school-age children say they will change their spending because of the economy, the lowest in the seven years NRF has been tracking it, and down from 81.1 percent last year.

Total spending for K-12 and college is expected to reach $68 billion.

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