FOR IMMEDIATE RELEASE August 4, 2023
Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org
Back-to-School Spending to Reach $528 Million Statewide Projected Spending Surges with Electronics in the Lead Students and their families are flocking to retailers across the Silver State to gear up for the new school year. An estimated $528.0 million will be spent on clothes, backpacks, and school supplies for the upcoming academic year, according to the Retail Association of Nevada (RAN). Favorable economic conditions such as rising wages and declining inflation are helping push back-to-school spending to new highs. For retailers, the back-to-school shopping season is just behind the winter holidays in terms of importance. RAN projects that $371.7 million will be spent on K-12 students, an increase of 7.3 percent from last year. Big-ticket electronics lead the way with an estimated spending of $136.1 million. Clothing and accessories sales come in second with expected spending of $107.4 million, followed by shoes ($69.6 million) and school supplies ($58.6 million). On a national level, families with students in grades K-12 will spend $41.5 billion, based on a recent survey by the National Retail Federation (NRF), with average spending per household of $890, up from $864 last year. For college students, of whom nearly 115,000 are enrolled in public and private institutions in Nevada, RAN estimates total expenditures of $156.3 million for back-to-college preparations. Electronics once again leads as the largest spending category with $38.5 million. Dorm and apartment furnishings follow at $21.8 million, with clothing and accessories at $20.9 million, and food expenses at $17.3 million. Nationwide, the NRF reports that college students’ spending is projected to reach $94.0 billion, with average household spending of $1,367. www.RANNV.org
1 of 3