Rubicon Expects Over $40 Billion Spending In Back-To-School Shopping

Rubicon Project Inc RUBI released its second annual Back-to-School Consumer Pulse Survey. Back-to-School shopping is expected to see a spending of more than $40 billion and the parents would be shopping earlier.

Rubicon said its survey focused on the purchasing intent, as well as the shopping habits of parents of children in K-12 grades and parents with children entering the college. Its survey found that 49 percent of parents of college freshman have already started shopping.

Another interesting result from the survey is that 61 percent of all parents are planning to spend more than what they spent last year. According to the survey, on average, it was about $917 per child and freshmen parents intend to spend over $1,300 per child. That is double that of average K-12 parent intends to spend.

The company's Chief Revenue Officer, Harry Patz, said, "Back-to-school is one of the biggest shopping events of the year and parents aren't afraid to open up their pocketbooks to ensure their children are best-prepared for the next grade."

He continued, "As parents spend more and begin shopping earlier than ever, it's essential for retailers and marketers to create personalized and precisely targeted campaigns for both moms and dads geared towards where they are spending a majority of their time. Parents' busy schedules have them increasingly turning online and to their mobile devices to make purchases, transforming the way they shop for their child's back-to-school apparel, supplies and technology."

Shares of the company traded 0.88 percent down on Tuesday.