A new survey by accounting firm Deloitte showed that back-to-school spending for K-12 children is expected to be flat this year after inflation has driven up prices.
The survey dovetails with other Deloitte research, which shows that 73 percent of Americans are concerned about rising prices for everyday goods and services.
According to Deloitte, total back-to-school spending is predicted to be $31.3 billion. Parents also reported to the survey they plan so spend an average of $586 per child.
Parents report that they expect to spend 11 percent less on technology than last year but said they would increase spending on other categories, including personal hygiene and educational furniture, by 22 percent.
Spending on school supplies and clothing is expected to be about the same.
Parent shoppers said they would prioritize value and convenience in their shopping, doing most of their shopping (77 percent) at mass retailers like Walmart and Target and shopping online (65 percent).
The number of retailers shoppers reported they would use also rose from 3.9 in 2023 to 4.7 in 2024. The majority of parents said they would probably sacrifice loyalty if it helped them stay within their budgets.
Despite the focus on staying on budget, 85 percent of parents said they would spend more on their children’s must-have items for back-to-school.
Another 50 percent of parents said they would shop for themselves at back-to-school time.
Besides the $586 parents plan to spend on regular back-to-school items, 86 percent of parents said they have enrolled or will enroll their children in extracurricular activities during the school year, with an average spend of $582 on fees, equipment and other necessary items.
Low and middle income parents say they are cutting back on spending because they are struggling with their finances and concerned about future economics.
Deloitte advised retailers to offer incentives and promote their loyalty programs to get consumers in the doors. Loyal shoppers spend 35 percent more, their study showed.
Mass retailers and office supply store Staples have had notebooks, crayons and pencils on sale as low as 25 cents per item for weeks already, but parents say that’s the tip of the iceberg when it comes to back-to-school spending.
“What I don’t get,” Grandma Robyn S. of Texas wrote to NTD News via Facebook, “is why our elementary school asks each child to bring in multiples” of supplies like glue sticks, boxes of crayons, and even paper towels and ziplock bags. “At the end of the year, the kids come back with 4 boxes of crayons, 10 unused glue sticks, etc. It just seems extreme and unnecessary.”
Parents on Facebook also chimed in with ideas on how to save money on back-to-school items.
Amanda S. of California suggested spacing out purchases over several months instead of buying everything at once. “Buy the backpack in May. Buy the school supplies in June. Buy clothes in July. Buy the rest in August,” she wrote.
Several parents said they don’t buy clothes for back-to-school; instead, they buy clothes as their kids outgrow them. Others said they rely on hand-me-downs or clothing swaps when possible rather than buying new clothes.
Erin W. of Kansas said she looks for deals on Facebook Marketplace for sports equipment her kids use throughout the year for extracurricular activities. She said she often lets her Facebook community know what equipment she needs, and sometimes other parents will give her items their kids aren’t using anymore.
Ashley D. of Virginia is an educator who said she waits for the state’s annual tax-free holiday to buy supplies for her classroom.