Back-to-School Shopping Poses a ‘Pain Point’ for Families Amid High Prices

Parents are struggling to afford back-to-school shopping in an era of stubbornly high prices.

Several recent surveys show that parents feel they are spending more on clothing and classroom supplies than before and may delay essential purchases or bills in order to pay for student supplies.

And, in addition to thinking about their own children, in some cases, parents are asked to help bring materials and materials into the classroom for everyone to share, as teachers also face difficulties as the school year approaches.

“We asked parents, ‘What’s the first thing you think about right now?’ It’s inflation and the economic struggle that so many families are facing right now, and when we talk about going back to school, that’s just one of the major pain points for American families because it brings to light how much pressure we have. we are really discouraged right now,” said Keri Rodrigues, founder and president of the National Parents Union.

In a WalletHub survey last week, 52% of parents said they expect to spend more on back-to-school shopping than they did last year.

And both parents and teachers are reaching into their own desks to help cover classroom supplies.

Pascale Small, a California mother with three children in school, told The Hill that she received “three different lists from three different teachers that I need to go shopping.”

“And most of our lists not only include things I’m buying for my kids to use, but they also include school supplies for the entire class to use. So our back-to-school shopping includes having to buy more than I will potentially need, more than my kids will need for schools that I feel need to be fully funded, and while I already struggle with trying to make sure my kids have what they need for school,” Small said.

Although inflation, which measures how quickly costs rise, has eased this summer, prices are still well above pre-pandemic levels. Since the pandemic, the cost of products has increased by almost 21%.

According to Deloitte research released last month, parents will spend $586 per student this year, potentially totaling about $31.30 billion for the retail sector. This is actually slightly lower than last year, when purchases per student were $597.

Lupine Skelly, retail, wholesale and distribution research leader at Deloitte, told The Hill that parents are “entering their second year of back to school with very high prices” and “we are seeing a lot more frugal behavior this year.”

“So I think more people, especially in the low and middle income groups, are saying they are trying to stick to their budget,” Skelly said.

“I think retailers are really aware of what’s going on with this situation and also concerned,” she added. “I think this idea is, ‘Hey, let’s offer these really great promotions at the beginning of the season.’ So we definitely saw that strategy to drive sales and engage people earlier.”

But these strategies can only go so far before families feel the pinch elsewhere.

A study from Intuit Credit Karma on Thursday showed that about 50 percent of parents will pause essential family purchases, such as groceries and bills, to keep up with the cost of school supplies. The number is higher for Gen Z parents, at 60%, and millennial parents, with 56% giving up essentials to buy back-to-school items their kids need.

“What my family typically does is buy now during the summer months for fall. If we see really good sales, we try to take advantage and be as smart as we can, to try to stretch the dollar,” Small said. “I can do everything I can to try to find the best deals I can get, everything I can do to make sure I’m buying my school supplies early and in bulk so I’m not paying so much. , but things are still costing more than they used to.”

“And again, I’m a family of five,” she added. “I have three children. This starts to add up a lot. This could mean that I may not pay today immediately. This could mean that I’m prioritizing buying them first, or it could mean that I still have to pay for the things I need to pay for my house to ensure we keep a roof over our heads, the lights on, and the water and maybe I won’t buy them. them fully at school as they would in the past.

Parents can only do so much to balance their budgets before some end up in debt due to the costs of starting the school year.

“The costs of everyday goods and services have been rising in recent years, which likely contributes to the shock parents face when shopping for back-to-school items. High borrowing costs may be another significant factor. These days, interest rates are high and taking on credit card debt is expensive, and we know that at least a third of parents plan to take on high-interest debt to cover back-to-school expenses,” said Courtney Alev, consumer financial advocate for Credit Karma.

—Tobias Burns contributed.

This story originally appeared on thehill.com read the full story