Summer students remain in the weeks before returning to school, but parents were planning to shop back to school earlier this year as they were trying to save money amid tariffs and inflation.
A survey by the National Retail Federation shows that over two-thirds of shoppers from schools have already begun purchasing back-to-school items. They are not the major retailers, but rather they are looking for summer sales and comparing prices at discounted stores.
“Shoppers want the best deals on clothing, notebooks and other school-related items, so retailers are very focused on making the affordable price and the shopping experience as seamless as possible,” said Katherine Cullen of the National Retail Federation.
Another survey by Deloitte also reflected the feelings felt by shoppers returning to school, saying more than half of survey respondents said they planned to make plans to shop “carefully.”
“It shows signs that four in ten consumers are looking for value. It’s at the expense of more cost-conscious choices, transaction-driven purchases and convenience,” the Deloitte Research states.
The National Retail Federation predicted that families with K-12 students would spend an average of $858 on clothing, shoes, school supplies and electronics despite tight budgets.
Deloitte researchers expect that spending around $570 per child will be lower as shoppers focus on mere essentials.
The owner of discount stores, including David Mansurian, who runs Dollars King on Winnetka, said that his business will attract consumers who want more values this year, rather than a big chain like Target or Walmart.
“A pencil is a pencil,” Manschlian said. “It’s not necessarily something you need a name brand.”
Even with a money-saving approach, some families said they were afraid that shopping back to school would make them into debt.
Over 30% of those voted by the Bankrate said they could not afford to buy supplies for their new grades.
Price increases are partly responsible. Families are paying more for key backpack essentials, such as backpacks, ahead of the new academic year. CNBC used producers’ price index (a close measure of inflation) to track how the cost of creating specific items that students normally purchase between 2019 and 2024.
The consumer price index, the main inflation meter, rose 2.9% in July from a year ago, the U.S. Department of Labor reported. That figure is down from 3% in June, down from the lowest reading since March 2021.
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