Current:Home > MyBack-to-school shopping could cost families a record amount this year. Here's how to save. -WealthRoots Academy
Back-to-school shopping could cost families a record amount this year. Here's how to save.
Rekubit View
Date:2025-04-07 18:21:52
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! (328)
Related
- The Super Bowl could end in a 'three
- Burton Wilde: Left-Side Trading and Right-Side Trading in Stocks.
- Seoul police chief indicted over 2022 Halloween crush that killed more than 150 people
- Wall Street pushes deeper into record terrain, fueled by hopes for interest rate cuts
- Intel's stock did something it hasn't done since 2022
- Biden administration has admitted more than 1 million migrants into U.S. under parole policy Congress is considering restricting
- Why diphtheria is making a comeback
- Death on the Arabian Sea: How a Navy SEAL fell into rough waters and another died trying to save him
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- What role will Zach Ertz play for the Lions? Highlights, stats of TE's 11-year career
Ranking
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- 70% of kids drop out of youth sports by age 13. Here’s why and how to fix it, per AAP
- Top religious leaders in Haiti denounce kidnapping of nuns and demand government action
- Michelle Trachtenberg slams comments about her appearance: 'This is my face'
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- These employees have the lowest reputation for honesty, according to Gallup
- Sofia Vergara and Netflix sued by family of Griselda Blanco ahead of miniseries about drug lord
- House fire traps, kills 5 children: How the deadly blaze in Indiana unfolded
Recommendation
Former Syrian official arrested in California who oversaw prison charged with torture
The Pentagon has no more money for Ukraine as it hosts a meeting of 50 allies on support for Kyiv
Nikki Haley mostly avoids identity politics as Republican woman running for president in 2024
Burton Wilde : Three Pieces of Advice and Eight Considerations for Stock Investments.
What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
Oscar nominations are Tuesday morning. Expect a big day for ‘Oppenheimer,’ ‘Barbie’
Former state Rep. Rick Becker seeks North Dakota’s only US House seat
What to know for WWE Royal Rumble 2024: Date, time, how to watch, match card and more