More than a third of parents with students in grades K-12 (35%) forecast spending between $100 and $249 on back-to-school items for their children this year, according to Deloitte. More than one in four (27%) expected to spend more than $500. Families that anticipated spending more this year than last year said the primary reasons are that prices are higher (58%), their children need more expensive or advanced products (34%), and school budget cutbacks mean they have to provide more items (26%).
The economy is affecting families’ back-to-school spending in 2012, but to a lesser extent than in 2011. While 68% say higher food prices influence their back-to-school spending, this percentage is down from the 72% who felt this way in 2011. Likewise, 63% say high energy prices are a potential financial problem, down from 70% in 2011.
Nearly four in 10 parents (38%) estimated their children would spend more than $200 of their own money on back-to-school products.
Parents primarily hear about back-to-school items via television (41%), family members (37%), newspapers (37%), and other friends (36%). Their children, however, learn about back-to-school items via their friends (59%), television (41%), family members (33%), and social media (17%).
Two in three families that own smartphones (65%) planned to use these devices to assist in back-to-school shopping, primarily to get price information (62%), download coupons (45%), view retailer ads (44%), get a store’s location (38%), and get product information (35%). Fourteen percent thought they would use smartphones to make purchases.
Source: Deloitte, Courtney Flaherty, 1633 Broadway, New York, NY 10019; 203-905-2708; cflaherty@deloitte.com; www.deloitte.com.
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