WASHINGTON: Americans are spending less on one of their most beloved springtime rituals, the high school prom, according to a national survey released Wednesday.
The typical US household will spend $978 on prom, down 14 percent from the average $1,139 that families spent in 2013 on such items as formal attire, limousine rental, tickets and dinner.
"Despite the drop this year, prom spending still remains disproportionately high and represents a major expense for American families with high school students," said Visa, the credit card company that commissioned the survey.
Regionally, families in the Northeast plan to spend 27 percent less this year, or an average of $1,104, while those in the South intend to fork out 23 percent less, or $926.
Frugal Midwesterners intend to spend the least of all, $835, while those in the West are earmarking $1,125 for the annual rite of passage.
Overall, parents expect to cover 56 percent of prom costs, with their teenagers footing the rest of the bill.
"This is an improvement from last year," Visa said, "but with parents still subsidizing this much of the total prom spending, there is still small incentive for teens to cut costs."
Spending on proms had been on the upswing since 2011, when the average outlay was $807. A year later, Visa put the value of the American prom industry at $4 billion.
Long prom gowns go for as much as $1,300 at online retailer Promgirl.com, which nevertheless offers a wide selection of looks under $200. Charities meanwhile stand ready to help hard-up families with donated dresses.
Visa said its survey was based on 4,000 live telephone interviews conducted across the nation in January and February by pollsters GfK Roper OmniTel. It did not disclose the margin of error.
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