WASHINGTON DC, Jul 19, 2012/ —Great news for retailers! According to NRF’s 2012 Back-to-School spending survey conducted by BIGinsight, the average person with children in grades K-12 will spend $688.62 on their children, up from $603.63 last year. Total spending is expected to reach $30.3 billion. Combined K-12 and college spending will reach $83.8 billion, serving as the second biggest consumer spending event for retailers behind the winter holidays. Not surprising, parents will spend the most on clothing, accessories and electronics this summer. Realistic about the cost of select items and the necessities needed for the school year, parents estimate