Current:Home > MarketsBack-to-school shopping could cost families a record amount this year. Here's how to save.-InfoLens
Back-to-school shopping could cost families a record amount this year. Here's how to save.
View Date:2025-01-09 18:52:49
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! (93)
Related
- Too Hot to Handle’s Francesca Farago Gives Birth, Welcomes Twins With Jesse Sullivan
- Protestors pour red powder on U.S. Constitution enclosure, prompting evacuation of National Archives
- Exclusive: Craig Counsell mourns his mother as first spring training with Chicago Cubs begins
- U.S. sanctions Iran Central Bank subsidiary for U.S. tech procurement and violating export rules
- Joan says 'Yes!' to 'Golden Bachelorette' finale fantasy beach proposal. Who did she pick?
- Anti-abortion ads used location data from 600 Planned Parenthood locations, senator says
- Falling acorn spooks Florida deputy who fired into his own car, then resigned: See video
- 13-year-old South Carolina girl rescued from kidnapper in Florida parking lot, police say
- Stressing over Election Day? Try these apps and tools to calm your nerves
- $5 for desk rent - before inflation: 3rd graders learn hard lessons to gain financial literacy
Ranking
- Deion Sanders says he would prevent Shedeur Sanders from going to wrong team in NFL draft
- Hiker discovers rare 2,800-year-old amulet in Israel
- Migrant crossings at the US-Mexico border are down. What’s behind the drop?
- How Jennifer Lopez Played a Part in Derek Hough and Hayley Erbert's Wedding Planning
- Judge recuses himself in Arizona fake elector case after urging response to attacks on Kamala Harris
- Americans who live alone report depression at higher rates, but social support helps
- The Biden administration announces $970 million in grants for airport improvements across the US
- 13-year-old South Carolina girl rescued from kidnapper in Florida parking lot, police say
Recommendation
-
NFL Week 10 winners, losers: Cowboys' season can no longer be saved
-
Pistons' Isaiah Stewart arrested, facing suspension after punching Suns' Drew Eubanks
-
Bayer fights string of Roundup trial losses including $2.25B verdict in Philadelphia
-
Flowers, chocolates and flash mobs: Valentine’s Day celebrations around the world
-
Eva Longoria Shares She and Her Family Have Moved Out of the United States
-
Leopard Is the Print You Want To Be Spotted In- The Best Deals From Kate Spade, Amazon, J.Crew, and More
-
49ers guard Jon Feliciano gets into nasty social media arguments after Super Bowl loss
-
Yemen's Houthi rebels target carrier ship bound for Iran, their main supporter