Welcome!

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
----------------------------------------------------------------------------
Clothes
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
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
To paraphrase someone famous, "The definition of insanity is to do something the same way over and over again and expect a different result". Humans are creatures of habit and when it comes to storage, old habits die hard. Why do we continue to put our faith in legacy storage providers when they haven't invented anything new in decades. Sure, they re-badge their products every couple of years to make their messaging look modern, but ultimately, it's the same old stuff with a new coat of lipsti...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...