YONKERS, N.Y. Yonkers students wont be the only ones getting a lesson in math when they head back to school this year.
Parents expect to see prices soar at the cash register as they fork over an average of $700 on back-to-school supplies this year, according to a study from the National Retail Federation . That means retailers are set to rake in billions in what has become the second biggest spending event of the year, trailing only the winter holiday season.
When it comes to their children, theres nothing more important to a parent than making sure their children have everything they need, even in a tough economy and especially when it comes to back-to-school shopping, federation President and CEO Matthew Shay said. Backpacks rip, pencils break and children grow, theres no way around it.
In its 2012 Back-to-School Spending Survey, researchers found the average person with children in kindergarten through 12th grade will spend $688 preparing for the fall.
Thats up more than $80 from last year, when researchers say tough economic times caused parents to cross many items off their shopping lists.
Parents with growing children will hit the stores this summer to replace and replenish what their children might have had to 'make-do' with last school season, the study says.
In Yonkers, the pressure of coming up with cash can be worrisome, especially for parents with more than one child, some parents said.
Between school supplies, clothes and backpacks, it can be a little overwhelming, Maria Nunez said Monday while browsing the shelves at Macys inside the Cross County Mall. But theres not much you can do about it.
Still, moms looking to cut costs may want to leave the dads at home this year. Men are expected to spend nearly $100 more on their children compared with women, the study says.
Its because women are more savvy shoppers, Yonkers mom Patrice Lee said.
Men are less apt to find deals, she said. They go to one store and buy everything there no matter how much it costs just to get it over with. Woman will spend time looking for deals.
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