Students Consumer Clout Widens As College Class Prepares For Return To Campus

NEW YORK, July 7, 2010 (GLOBE NEWSWIRE) -- Summer is finally in full swing and, while July 4 ^th barbeques are just winding down and shore side activities may seem more immediate, preparation for the return to campus is heavily underway for close to 16 million college students between the ages of 18-34 ¹. Early findings released today from Alloy Media + Marketing's 10 ^th Annual College Explorer Study, powered by Harris Interactive, show a historic number of students matriculating this Fall, who will carry back to school with them an unprecedented and immense $306 billion in projected spending power – up 13% since last year's estimates. 

Now the largest class in history, the current college population (ages 18-34) jumps 6% from projected 2009 figures. And, while overall non-discretionary expenses are on the rise, it's this consumer group's discretionary spend that is particularly revealing. Showing a projected 10% increase since last year, the 18-34 year old college set continues to display a penchant for what they deem "must haves", with annual discretionary spending figures rising to an estimated $69 billion, representing a substantial hike from 2009.

"This year's survey shows a substantial increase in college enrollment and with this ever-broadening population, a student body that appears more confident towards the future of the country's financial state of affairs and doling out their discretionary income for the necessary trappings of college life," commented Dana Markow, VP, Youth and Education Research, Harris Interactive.

The Future's So Bright...

Clearly, these youthful consumers are not cutting back deeply, despite the continuation of a challenged economy. In fact, their spending appears to illuminate an increasingly optimistic view when it comes to the state of the nation. When asked their opinion about the future of the nation's economy, more than four out of every ten students (42%) in both the 18-24 and 18-34 age brackets stated they feel the economy will improve in the coming year. Compared to 31% of those 35 and older in the U.S. general population ² who reported the same, it appears the current student body is expressing more confidence when it comes to the country's financial turnaround.

This optimism seems to be translating at the cash register, as students (18-34) report they are spending 3% more per month on discretionary purchases than they did last year - an average of $361 per student.