In our last blog we discussed some of the offers and messaging college students want during the college back-to-school season. This blog explores the overall increase in spending. The data is based on a survey conducted last Fall by OnCampus Advertising in coordination with independent survey company WhatsGoodly.
Spending Increases in College Back-to-School
College students spending more money than ever before on back-to-school supplies. Of 527 student responses, 61% planned to maintain or increase their back-to-school spending in comparison to the previous year. Nearly half of the college students plan to spend more than the previous year. Only about a third of respondents claimed they would spend less.
When it comes to increasing back-to-school spending, many of the increased spending levels are not modest. Of students who expected their spending levels to increase, 42% of respondents anticipated that their spending levels would increase by at least $500, with 20% of those planning to increase by $1000 or more. Only 12% of respondents claimed they expected their spending levels to increase by $100 or less. All of this demonstrates that not only are students spending more on back-to-school shopping, but the differences have been significant.
Overall, 50% of students claimed they would be spending over $500 on school supplies, while 19% expected to spend over $1000. This could reflect the overall strength of the economy or the fact students need more supplies than ever to meet their education needs.
To learn more about these figures and other statistics about college students’ back-to-school spending, contact us to receive the full results of our College Students Back-to-School Survey