Total college market spending will grow to $405 billion this year, up 5% from $385 billion last year, details astudy released in September by re:fuel. That growth will be fueled by a 40% year-over-year jump in discretionary spending, from $86 billion last year to $120 billion this year. Although some of that is based on increased enrollment of about 600,000 students, the average annual discretionary spend per student has increased by almost 37%, from $4,069 in 2011 to $5,559 this year. The figures are calculated on the basis of spending per month per student, extrapolated to the entire population for 12 months. All amounts are in 2012 dollars.
It appears that college market discretionary spending will come at the expense of non-discretionary spending (tuition/room and board, rent/mortgage, and class materials), which dropped from a total of $299 billion last year to $285 billion this year. Read the rest at MarketingCharts.
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