Current:Home > InvestBack-to-school shopping could cost families a record amount this year. Here's how to save. -Ascend Finance Compass
Back-to-school shopping could cost families a record amount this year. Here's how to save.
View
Date:2025-04-15 06:19:28
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! (1)
Related
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Anna Delvey's 'lackluster' 'Dancing With the Stars' debut gets icy reception from peeved viewers
- Jamie-Lynn Sigler Shares Son Beau, 11, Has No Memory of Suffering Rare Illness
- What to know about the pipeline fire burning for a third day in Houston’s suburbs
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Winning numbers for Sept. 17 Mega Millions drawing: Jackpot rises to $31 million
- Suspension of security clearance for Iran envoy did not follow protocol, watchdog says
- Police seek a pair who took an NYC subway train on a joyride and crashed it
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- DWTS’ Stephen Nedoroscik Shares the Advice He Got From Girlfriend Tess McCracken for Emmys Date Night
Ranking
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Dancing With the Stars: Dwight Howard, 'pommel horse guy' among athletes competing
- National Cheeseburger Day 2024: Get deals at McDonald's, Burger King, Wendy's, more
- Harvey Weinstein set to be arraigned on additional sex crimes charges in New York
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Dancing With the Stars' Jenn Tran Shares How She's Leaning on Jonathan Johnson After Breakup
- O'Doul's in Milwaukee? Phenom Jackson Chourio can't drink in Brewers postseason party
- The Laneige Holiday Collection 2024 Is Here: Hurry to Grab Limited-Edition Bestsellers, Value Sets & More
Recommendation
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
Could Panthers draft another QB after benching Bryce Young? Ranking top options in 2025
Melania Trump to give 'intimate portrait' of life with upcoming memoir
Trail camera captures 'truly amazing' two-legged bear in West Virginia: Watch
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
Edwin Moses documentary ’13 Steps’ shows how clearing the hurdles was the easy part for a track icon
Harvey Weinstein set to be arraigned on additional sex crimes charges in New York
College Football Playoff bracketology: SEC, Big Ten living up to expectations