New research from Morning Consult finds that as of early July, 40% of parents have commenced back-to-school shopping for 2024. While 38% plan to start in early August, they risk missing out on July sales. Amazon Prime Day is the top discount event, with 46% of parents planning to shop the sale.
Here’s a closer look at this year’s back-to-school spending and shopping trends.
Back-to-School Spending Remains Elevated Since Peak Inflation
In June 2022, inflation hit historic highs, causing a surge in back-to-school budgets. The percentage of parents planning to spend over $500 jumped from 7% in 2021 to 25% in 2022. Two years later, these higher spending levels persist. Retailers are responding by reducing prices storewide and introducing value-oriented store brands to help families afford essentials without overspending.
Surveys conducted between August 2018 and July 2024 among 4,147 U.S. parents planning back-to-school purchases show an unweighted margin of error of up to ±6 percentage points.
Parents seeking discounts to offset inflation’s impact are taking advantage of Amazon Prime Day (46%) and other associated sales (20%). State-level tax-free holidays remain popular, with 40% of parents planning to utilize these events. Labor Day sales and other summer holiday sales are also in their plans, at 23% and 22%, respectively.
Apparel and School Supplies: The Largest Spending Categories
Beyond school supplies, children need new clothes for the school year, an expensive but necessary expenditure. Electronic devices to support classroom learning and homework are also significant expenses. While fewer parents plan to spend on home goods, those with college-bound students will invest heavily in outfitting dorm rooms.
Parents Plan to Spend the Most on Clothing and School Supplies
A survey conducted July 5-7, 2024, among 452 U.S. parents planning back-to-school purchases, with an unweighted margin of error of ±5 percentage points, shows apparel spending is down from last year as consumers cut back on discretionary purchases. Teens still prefer in-store shopping for apparel, making the back-to-school season a critical time for clothing retailers.
Secondhand Shopping Aids in Affording Books and Clothing
Parents looking to save money will turn to the secondhand market for schoolbooks and clothing. Used book sales, often managed by schools, and local buy-nothing groups help families find necessary items. However, secondhand shopping is less common for electronics and home goods, and school supplies like notebooks and pencils are almost always purchased new.
