Click here to close now.


News Feed Item

2014 BMO Back to School Survey: Upwards of 2 Million Post-Secondary Students Planning to Spend an Average of $1,121

- One of the busiest shopping periods of the year

TORONTO, ONTARIO -- (Marketwired) -- 08/18/14 -- According to the inaugural BMO Post-Secondary Student Survey, university and college students expect to spend, on average, $1,121 this year on back-to-school purchases.

The survey, conducted by Pollara, also revealed which, if any, of the following products post-secondary students say they will need to purchase before the start of the 2014 semester:

--  Nearly all students will be purchasing textbooks (88 per cent);
--  More than half (58 per cent) will be buying new clothes;
--  Two-fifths (41 per cent) plan to make a technology purchase, mostly in
    the form of computers (38 per cent) rather than mobile devices (7 per
    cent); and
--  One-fifth (20 per cent) intend to purchase furniture.

"With the back-to-school season in full-swing, many retailers that sell back-to-school supplies can expect to see a boost to their bottom line, as Canadian post-secondary students are expected to spend a significant amount of money before the start of the fall semester," said Paul Kyte, Vice President, Commercial Banking, BMO Bank of Montreal. "Retailers that offer loyalty or rewards programs could reap the rewards of post-secondary students looking to make the most of their budget."

"Back-to-school shopping is among the most important and highest profile seasons for Canadian retailers. Total retail sales are expected to climb 3.5 per cent to 4 per cent year over year in 2014, with a similar gain anticipated for the back-to-school season," said Benjamin Reitzes, Senior Economist, BMO Capital Markets. "The importance of attaining a post-secondary education has increased consistently over the past few decades, with about two million students creating a growing market for retailers. This trend is expected to continue as the focus on higher education will only sharpen in the years ahead."

Regional Differences

The survey also found pronounced regional differences when it came to the amount of money post-secondary students expect to spend on back-to-school supplies:

--  Albertans expect to spend the most ($1,236), followed by Ontario post-
    secondary students ($1,204)
--  Those in the Prairies expect to spend the least on supplies for the
    start of school ($857)
--  University and college students in Atlantic Canada and British Columbia
    are the most likely to buy new clothes (60 per cent); those in the
    Prairies are the least likely (48 per cent)

Few Students Relying on Family for Financial Assistance

The BMO Post-Secondary Student Survey also asked post-secondary students how they will be paying for products required for the school year:

--  One-third (34 per cent) will pay for back to school expenses using loans
    or scholarships;
--  One-quarter (27 per cent) will pay using credit, with the intent to pay
    back later; and
--  Thirty per cent will have the assistance of family or friends.

2014 Back-to-School Prices(i)

Category                                              Approximate Total Cost
Textbooks / supplies
Textbooks, pens/pencils, paper, sticky notes,
 highlighters, notebooks, organizer and binders    $800 - $1200 per semester
Pair of jeans, 2 shirts, a sweater, pair of
 running shoes and 3 pairs of socks and
 undergarments                                                  $300 to $500
Total Back-to-School Budget:                                   $1100 - $1700
Additional Item: Technology
Computer or computer accessories; tablets                      $1000 - $1600
Additional Item: Furniture
Chair, desk and a single-bed                                    $200 - $1000
Total Back-to-School Budget (with additional
 items):                                                       $1200 - $2600

(i)Based on an internet sampling of major retailers' current sale prices for back-to-school supplies

The Pollara online survey was completed between August 1st and August 8th, 2014, with a sample of 600 Canadian post-secondary students. A probability sample of this size would yield results accurate to +/- 4.0 per cent, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of $582 billion and more than 45,500 employees at April 30, 2014.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...