Back-to-School Shopping Trends in the US
As back-to-school shopping season kicks off in the United States, a survey by the National Retail Federation reveals that more than half of consumers have already started purchasing supplies for the upcoming school year. The NRF projects that consumers will spend a total of $38.8 billion on back-to-school items, with considerations for college-related purchases such as laptops, clothing, and shoes. Additionally, extracurricular activities and related costs have also been factored in, with 86% of parents reporting signing up their children for activities ahead of the fall semester. According to a Deloitte survey, the average cost of supplies, including fees and equipment, amounts to $582 per child.
Cost-Saving Tips for Back-to-School Shopping
With the average expenditure per child on school supplies estimated at $586, here are some tips to save money during the back-to-school shopping season:
1. Compare Prices at Different Retailers
Research from the FinanceBuzz website highlights the varying costs of school supplies at different stores catering to elementary, middle, and high school students. For a selection of 20 basic items, Walmart emerged as the most cost-effective option, offering the items at $67.37, 37% lower than the average cost. Other budget-friendly options include Dollar General and Target, while Michaels was noted as having the highest prices for school supplies.
2. Utilize Discounts and Offers
Consumer Reports recommends exploring discounts, offers, and price comparisons before making purchases. Check with teachers about immediate supply needs versus items that can be delayed for after-school deals. Look out for student discounts and promotions offered by retailers throughout the year. Take advantage of sales tax holidays that occur in some states during the summer.
3. Maximize Returns through Strategic Shopping
Spread out your shopping to take advantage of sales that may occur after your initial purchases. Wholesale clubs can be a cost-effective option for larger households or multiple children. Monitor prices post-purchase and inquire about price adjustments or return policies that may allow you to get a refund if an item goes on sale shortly after your purchase.
