, Salem, MA


May 1, 2013

Our view: The prom effect

While it didn’t show up in any state or national economic report, there’s one economic indicator that most parents of teenage children are already familiar with: Prom spending is on the rise again.

According to a survey of 1,025 parents of prom-aged teens by Visa and the research company Gfk, prom spending is expected to rise this spring to an average of $1,139. That’s up roughly 40 percent from 2011 and a slight increase from last year. (Of course, the average is highest in the Northeast, at $1,528.)

“Dresses are more elaborate,” Marshal Cohen, chief industry analyst at the market research firm NPD Group, told The Associated Press. “They are now buying two pairs of shoes, one to go to prom and one to dance in.

“This crop of kids cares about prom,’’ Cohen said.

And at about $1,500 a child, there’s no doubt their parents do, too, although maybe for different reasons.

Text Only | Photo Reprints

AP Video
Obama Hopeful on Ukraine, Will Watch Russians Flamingo Frenzy Ahead of Zoo Construction Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Raw: Pope Francis Performs Pre-easter Ritual Raw: Bulgarian Monastery Dyes 5000 Easter Eggs Diplomats Reach Deal to Ease Tensions in Ukraine U.S. Sending Nonlethal Aid to Ukraine Military Holder: Americans Stand With KC Mourners Obama Greets Wounded Warriors Malaysia Plane: Ocean Floor Images 'Very Clear' Sparks Fly With Derulo and Jordin on New Album Franco Leads Star-studded Broadway Cast Raw: Two Lucky Kids Get Ride in Popemobile Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing
Comments Tracker
Roll Call
Helium debate