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| MoneyWednesday, August 15, 2007 11:48 PM CDT |
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Twin City businesses glad to see college students
NORMAL — The red sea that will flood Bloomington-Normal this week is not a disaster, but an opportunity for local businesses. “We think the college students coming back is the best thing that’s ever happened to us,” said Mary Strack, owner of the three Jimmy John’s restaurants in the Twin Cities. Most Illinois State University students begin returning to campus today, while Illinois Wesleyan University’s move-in day is Monday. As classes begin they will be out in force, buying everything from dorm refrigerators to futons. Once the semester is under way, they will continue that spending at retailers, restaurants and nightspots. All that means businesses are anxious for their return. Nationwide, 17.4 million college students had a total spending power of $182 billion in 2006, according to market research firm Harris Interactive. Discretionary spending rose 12 percent from the previous year, to $46 billion. “Everyone is competing for those student dollars,” Strack said. Many stores see that spike in business right before the fall semester starts. Students and parents are expected to spend a total of $47.3 billion on essentials for dorm and apartment living and other back-to-college shopping this fall, according to the National Retail Federation. That’s an average of about $957 per college student, the federation said. Already this week, ISU students and their parents have shopped for futons, microwaves, bed risers and kitchen utensils at Target, said Martha Ayres, executive team leader at the Normal store. “Right when they come back, you can see the change,” Ayers said. Department stores at Eastland Mall in Bloomington are also poised for students’ return, said Marketing Director Gayle Gleespen. The mall sees a lot of business from incoming students because it’s easier for them to buy items here rather than have to worry about transporting everything from home. “College kids have a lot of flexible money,” Gleespen said. “They go out, and they buy a lot of clothing, spend money at restaurants.” Even though the first two weeks of the fall semester are the busiest, local businesses try capitalize on the discretionary spending throughout the year. In particular, attendance for Friday and Saturday night midnight movies at Bloomington’s Palace Cinema 10 or Normal’s University 8 pick up when school is in session, said Ruth Kreiser, district manager for Carmike Cinemas in Illinois and Indiana, which owns the theaters. A lot of student moviegoers may pass on the concession stand, but they will spend money — especially at a discounted college student price — to see a movie, Kreiser said. “The college kids all come to the movies,” she said. “I see them all the time at the Bloomington theaters.” And every once in a while, it’s nice to get a break from cafeteria food. Sales at Jimmy Johns in Normal increase 50 percent when students come back, Strack said. To meet the increased demand, the two eateries near ISU’s campus stay open later when school is in session and use about twice as many employees per shift, Strack said. Avanti’s Italian Restaurant in Normal has steady business longer during the lunch and dinner hours once students return, said co-owner Rich Zeller. The students contribute to about a 10 percent increase in business for the popular near-campus eatery, but there is a downside to all the college traffic. “Sometimes (other) people will tend to stay away, having the perception it’s going to be too busy because the students are back,” Zeller said. Off to schoolStudents and parents are expected to spend a total of $47.3 billion on back-to-college shopping this fall. Some of their top priorities are as follows: Textbooks: $15 billion Electronics: $12.8 billion Clothing and accessories: $7.41 billion Dorm and apartment furnishings: $5.43 billion School supplies: $3.14 billion Shoes: $2.96 billion Biggest spenders: Freshmen, average of almost $1,200 SOURCE: National Retail Federation E-mail this story | Print this story | Search archives | RSS Show comments |  Hide comments | Hide comments on all stories |
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