NRF: Back-To-School Furniture Spending to Rise

August 14, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on August 2007 Students heading for college will give a boost to furnishings sales this year, spending $5.43 billion in the category, according to results of a National Retail Federation survey released Tuesday.

Overall, NRF’s 2007 Consumer Intentions and Actions Survey indicates students and families will spend $47.3 billion gearing up for college. Students and their parents will spend a combined average of $956.93 on back-to-college merchandise, up from last year’s $880.52.

The survey showed that thanks to trendy in-store promotions and youth-focused merchandise, dorm and apartment furnishings are now becoming increasingly important to students. Spending in this category is expected to reach $5.43 billion, up from last year’s $3.82 billion. Young adults ages 18 to 24 will shell out the most in this category, spending an average of $158.61. 

The NRF 2007 Back-to-College Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the back-to-school season. The survey, which polled 7,710 consumers, was conducted for NRF by BIGresearch August 1-7. The consumer poll has a margin of error of plus or minus 1 percent.