Back to college spending has stabilized at high levels, reaching an estimated $86.6bn in 2024. While down 7.9% from the previous year’s high, the market remains robust, with spending 59% above 2019 levels. Spending increases are driven in large part by growth in electronics and home/dorm furnishings, reflecting the significant investments made by college students each year.
Economic uncertainty continues to drive budget-conscious behaviors in the segment, with 69% of students feeling that shopping for college is too expensive and 74% finding it important to stick to a budget. Despite this, college students are also eager to take financial responsibility and enjoy interacting with brands and retailers as they exert their independence.
There continues to be immense opportunity in the college market for brands and retailers to build brand affinity with younger consumers. Experiential concepts such as college tours and on-campus events are quickly becoming the norm as today’s students like to see brands take an active interest in their communities and lifestyles.
Strong spending is expected to be maintained in 2025, though economic pressures and the threat of tariffs reinforce a need for a strong overall value proposition in the season ahead.
Back to college spending remains high. While students stay budget-conscious, brands have strong opportunities to connect through engaging experiential concepts.
Brittany Steiger, Principal Analyst – Retail & eCommerce
This report defines back to college shopping as any shopping done in preparation for the college term, including students enrolled at four-year universities, community colleges, online learning programs, graduate degree programs and other institutions of higher learning. This shopping may include purchases of clothing, accessories and supplies such as pens, pencils, paper, electronics, dorm and apartment furnishings, and essentials consumers purchase specifically for college.
This Report explores consumers aged 18-23 who are or will be students.
Market Size Methodology
The Market: National Retail Federation Annual 2024 Back to School Spending Survey conducted by Prosper Insights & Analytics. The survey asks respondents how much they expect to spend on back-to-college items. Expected spending may differ from what consumers actually spend.
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