American families are expected to spend an average of $1,642 on back-to-school spending this month, up significantly (33 percent)) from the $1,239 American families spent in 2015, according to the American Express Spending & Saving Tracker.
Fueling this increase in spending is the rise of gadgets and other tech-related devices in the classroom, with 92 percent of parents reporting that their children use them for learning or in their school assignments (compared to 82 percent of parents in 2015). Six in 10 parents are expected to purchase electronic devices this year during back to school shopping, with an average spend of $505.
Laptops are the most popular tech-based back-to-school item, with 28 percent of families expected to purchase them this year (up from 22 percent in 2015), followed by tablets at 23 percent (compared to 19 percent last year) and cellphones at 19 percent (compared to 14 percent last year).
“When looking at trending data on this topic from the past five years, 2016 is showing the largest year-over-year increase for back-to-school shopping,” Jed Scala, American Express’ senior vice-president of consumer lending, said in a press release. “This may be attributed to an ever-evolving back-to-school shopping list and, perhaps, parents’ ability and willingness to spend more when it comes to education and extracurricular activities.”
The tracker also illustrates the steady rise of smartphones in children’s learning habits, with 32 percent of parents agreeing that smartphones are a necessity or used gadget when it comes to their child’s learning. That number is up from just 19 percent in 2013. Of those parents purchasing a cellphone for back-to-school shopping, 73 percent said they will purchase a smartphone for their child.
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