Current:Home > ContactBack-to-school shopping could cost families a record amount this year. Here's how to save. -FundTrack
Back-to-school shopping could cost families a record amount this year. Here's how to save.
View
Date:2025-04-16 19:28:46
Inflation is hitting parents' pocketbooks hard, with back-to-school shopping forecast to cost American families the most ever amid higher prices for everything from calculators to crayons.
Spending on school supplies is expected to hit a record $41.5 billion this year, according to a recent survey from the National Retail Federation (NRF) and Prosper Insights & Analytics. That would mark an increase of 12%, or $4.6 billion, from the $36.9 billion consumers spent last year.
It would also smash the previous high of $37.1 billion, set in 2021.
Families are spending more on school supplies after a year of high inflation, but also due to evolving school-related needs. For instance, more big-ticket items, like electronics related to learning, are on shoppers' lists this year.
A larger share — nearly 70% compared to last year's 65% — of back-to-school shoppers expect to buy computers and related accessories this year, according to the NRF survey.
Prices for many classroom essentials have outpaced the 4% increase in other major goods, according to an analysis by Pattern. This is how much prices of back-to-school staples have increased compared to last year:
- Graph Paper - 18%
- Mechanical Pencils - 16%
- Folders - 13%
- Highlighters - 13%
- Index Cards - 12%
- Crayons - 12%
- Composition Books - 9%
- Rulers - 8%
- Scientific Calculators - 6%
How to save on school supplies
- Shop at discount stores or by off-brand products. Nine percent of shoppers will switch to discount stores, or will purchase supplies as needed throughout the school year, instead of buying everything up front, according to a survey from TransUnion.
- Plan ahead. Make a list of essential tools and supplies and be on the lookout for sales, strategies that can help consumers avoid impulse purchases. "Be on the lookout for major sales events," Mark Rose, senior director of retail at TransUnion, told CBS MoneyWatch.
- Place a bulk order. Ask friends to go in on a bulk order with you, which can save money, Pattern data expert Dallin Hatch advised.
- Ask for a price adjustment. "Keep an eye out for sales that come after you've shopped, and go back and ask for a price adjustment for up to a week or two after purchase," Rose of TransUnion said.
- Buy secondhand. A Morning Consult survey shows twice as many parents said they'll buy used home goods and school supplies this year compared with last year, to keep their budgets in check.
veryGood! (27)
Related
- Meta releases AI model to enhance Metaverse experience
- The ‘Plant Daddy of Dallas’ Is Paving the Way for Clean, Profitable Urban Agriculture
- Carbon Removal Is Coming to Fossil Fuel Country. Can It Bring Jobs and Climate Action?
- Trucks, transfers and trolls
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Last month was the hottest June ever recorded on Earth
- Taco John's has given up its 'Taco Tuesday' trademark after a battle with Taco Bell
- Amazon Prime Day 2023 Deal: Save 50% On the Waterpik Water Flosser With 95,800+ 5-Star Reviews
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Across New York, a Fleet of Sensor-Equipped Vehicles Tracks an Array of Key Pollutants
Ranking
- Travis Hunter, the 2
- Trader Joe's has issued recalls for 2 types of cookies that could contain rocks
- Twitter replaces its bird logo with an X as part of Elon Musk's plan for a super app
- EPA Paused Waste Shipments From Ohio Train Derailment After Texas Uproar
- A South Texas lawmaker’s 15
- Amazon Prime Day 2023 Flash Deal: 52% Off a Revlon Heated Brush That Dries and Styles at the Time Same
- Last month was the hottest June ever recorded on Earth
- The EPA Is Helping School Districts Purchase Clean-Energy School Buses, But Some Districts Have Been Blocked From Participating
Recommendation
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Why Khloe Kardashian Feels Like She's the 3rd Parent to Rob Kardashian and Blac Chyna's Daughter Dream
Trader Joe's has issued recalls for 2 types of cookies that could contain rocks
These 25 Amazon Prime Day 2023 Deals Are Big Sellout Risks: Laneige, Yeti, Color Wow, Kindle, and More
The company planning a successor to Concorde makes its first supersonic test
Kevin Costner Ordered in Divorce Docs to Pay Estranged Wife Christine $129K Per Month in Child Support
Proof Emily Blunt and Matt Damon's Kids Have the Most Precious Friendship
Turning unused office space into housing could solve 2 problems, but it's tricky