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NRF: Back-to-school spending expected to reach $30.3 billion
Washington, D.C. -- A survey released by the National Retail Federation and conducted by BIGInsight found that the average parent will spend $688.62 on back-to-school items this year, compared with $603.63 last year. Total spending is expected to reach $30.3 billion.
NRF cited an increased number of children entering elementary and middle school this fall, as well as necessary back-to-school replenishments after last year’s cutbacks, for the predicted improvements.
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New MasterCard report: Small retailer growth outpaces larger retailers for nine consecutive months
Purchase, N.Y. -- June spending at small retailers increased 8% in 2012 compared to June 2011, higher than the overall U.S. retail growth rate of 6.9%, according to a new SpendingPulse report issued by MasterCard Advisors in partnership with Wells Fargo. The same report also found that sales growth at small retailers has now outperformed growth of overall retail sales for nine consecutive months, since October 2011.