Current:Home > ContactBack-to-school shopping could cost families a record amount this year. Here's how to save. -Elevate Capital Network
Back-to-school shopping could cost families a record amount this year. Here's how to save.
View
Date:2025-04-16 08:45:16
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! (14994)
Related
- JoJo Siwa reflects on Candace Cameron Bure feud: 'If I saw her, I would not say hi'
- Pete Townshend on the return of Tommy to Broadway
- What Dance Moms' Abby Lee Miller Really Thinks of JoJo Siwa's New Adult Era
- Wintry conditions put spring on hold in California
- Elon Musk’s Daughter Vivian Calls Him “Absolutely Pathetic” and a “Serial Adulterer”
- When will solar eclipse reach your town? These maps show path's timing, how long it lasts.
- Judge says Trump’s lawyers can’t force NBC to turn over materials related to ‘Stormy’ documentary
- Can animals really predict earthquakes? Evidence is shaky, scientists say
- Report: Lauri Markkanen signs 5-year, $238 million extension with Utah Jazz
- New Mexico electric vehicle mandates to remain in place as auto dealers fight the new rules
Ranking
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Earthquake snarls air and train travel in the New York City area
- J. Cole drops surprise album 'Might Delete Later,' including response to Kendrick Lamar's diss
- Caitlin Clark got people's attention. There's plenty of talent in the game to make them stay
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Tennessee court to weigh throwing out abortion ban challenge, blocking portions of the law
- Actor in spinoff of popular TV western ‘Yellowstone’ is found dead, authorities say
- This week on Sunday Morning (April 7)
Recommendation
The 401(k) millionaires club keeps growing. We'll tell you how to join.
An appeals court blocks a debt relief plan for students who say they were misled by colleges
Workers sue to overturn law that exempts Atlantic City casinos from indoor smoking ban
The Black Keys ditch insecurities and enlist Beck, Noel Gallagher, hip-hop on new album
Carolinas bracing for second landfall from Tropical Storm Debby: Live updates
Federal investigation begins of fatal Florida crane collapse; bridge reopens
Nickelodeon 'Double Dare' host Marc Summers says 'Quiet on Set' producers blindsided him
Emergency operations plan ensures ‘a great day’ for Monday’s eclipse, Ohio Gov. Mike DeWine says