Carson Heartsg of Minnesota Star Tribune
Color-coded folders and notebooks. A fresh stash of pens and pencils. New clothes.
Millions of American students from kindergarten to university, and their (often) bankroll parents, shop back to school before each fall. But as prices rise, technology evolves and new products reach the shelves, families are exploring ways to keep checking on school supply lists at affordable prices.
“When I was younger, I had $50 to go to the grocery store. I’m going now. It’s like three or four items.” “The family is a bit squeezed down because it costs all, creating a level of anxiety.”
A survey of PWC’s first schools found that around three in four parents say they spend as much or more on school supplies than last year, even with higher prices and financial volatility.
“There is still this underlying element of consumer trust,” said PWC partner Kelly Pedersen. “Even though we hear a lot of uncertainty in the market, people still need to shop at school.”
Planning and budget
Before you shop, take stock of last year’s supplies. According to the PWC, about a third of parents plan to reuse the item.
A budget combined with a specific shopping list can prevent impulse purchases.
Minneapolis has surveyed Deloitte, a parent who is expected to spend $682 per child this year. This is 20% higher than the national average.
Niki Kroll in Minneapolis usually starts shopping back to school in July and has already noticed high prices. Notebooks, folders and backpacks from various names brands appear to be more expensive than the previous year. However, she managed to find pencils, glue sticks and other basics.
The surveyors planned to spend less on clothing and more on school supplies. They also plan to spend more money on high-tech than last year, but experts hope that the total of these tech purchases will remain flat compared to last year’s $520 per family.
Evaluate your needs
As children advance in schools, more advanced classes may require new high-tech purchases, such as different calculator models, almost every year. If possible, delaying the purchase, or downgrading it, such as buying an older or second-hand version, will free up more essential rooms such as binders, scissors, and pencil cases.
“Consider asking what is essential and what is essential on the first day,” Bankrate Senior Industry analyst Ted Rothman said in an analyst’s note.
Shop now
More than a third of the parents surveyed said it started earlier this year to beat the Rush by raising better prices.
“There’s the idea that better deals are there sooner before the center of returning to school in August,” Pedersen said.
Deloitte’s survey shows that more than two-thirds of Minneapolis parents will finish shopping at most schools by the end of July. They managed to win recent sales such as Target’s Circle Week and Amazon’s Prime Day. However, some retailers are holding back to school promotions until August.
Target announced “School Back in Day” on Tuesday, July 27th and August. 2. Retailers maintain 2024 prices for key items, with some stores having personalised stations with embroidery and patches for backpacks, lunch boxes, towels and pillows.
Walmart offers lower prices than last year, including highlighters, erasers and notebooks.
Use AI
One in five parents told PWC they plan to use artificial intelligence to find the best deal of the season.
“The biggest change I saw in AI shopping is the concept of agents, essentially optimizing lists and purchases by putting shopping lists and budgets,” says Pedersen. “We actually employ all the search work, because we have to go back to school shopping.”
AI tools such as the app and website ChatGPT allow users to paste into their school supplies list and make requests such as “Find these items online or in-store at the cheapest prices within 20 miles of Minneapolis.” Users can also search for specific stores and ask them to keep the total under a certain amount.
Don’t fall for influencers
Deloitte’s data shows that parents using social media are more likely to spend more than an hour and a half at school than others. Higher education, greater wages, better access to the internet, and more leisure spent online all plays a role.
“In general, retailers are moving their marketing dollars to influencers, and influencers are creating actions that could lead to the purchase of their splurge,” Marsh said.
More than two-thirds of Minneapolis parents say they pilot the child’s preferences often spend more money, with 63% saying they are willing to spend a little extra on their child’s first day clothes compared to 57% nationwide.
Have fun
In Bloomington, the Mall of America hosts gifts, limited time promotions, and events for schools. Shoppers can scan the Mall of America app once a day to get the chance to earn gift cards and reward points. The mall plans to hand out gift cards worth more than $10,000 between August 11th and 31st.
Transactions are also available for Nickelodeon Universe Theme Park and Crayola Experience from August 4th to September. 30.
“For parents and families who come to America, it’s a one-stop shop,” said Jill Renslow, Chief Business Development and Marketing Officer at Mall of America. “It’s a destination where people have a tradition of coming not only to shop, but also to have some rides and lunch.”
Many cities also offer local events for free or low cost school supplies. Check out our city event calendar.
In-store vs. Online
Young parents are leading a small revival of in-store shopping.
“Of our statistics, ZS is the most visited physical stores,” Pedersen said. “(They) value face-to-face experience, and in some cases they are willing to pay a premium price for that.”
Gen Z also reported that they are likely to buy in-store. Over the past few years, younger shoppers have browsed more commonly to try and test products, but they have bought their final purchases online.
Income also plays a role. Families under $75,000 are almost twice as likely to shop in-store only, while high-income households tend to prefer online shopping.
Be strategic
According to the bank rate, inflation has cooled to 2.4%, but prices have risen nearly 24% compared to pre-pandemic levels.
“When the rates go down, it’s not like prices go down. They don’t go up that fast anymore,” Marsh said. “However, there is a lot of financial uncertainty about pricing.”
You can save money by looking for a common version of your favorite brand or comparing prices across stores. You can save money, Pedersen said. About a fifth of shoppers said they were about to make an indirect shopping.
Rothman wrote in an analyst’s note that shoppers can stack discounts by combining reward credit cards with store promotions and other available offers.
In Kroll’s case, she enjoys having her kids choose the most personal items, like a lunch box. Despite the higher prices, these moments are some of her family’s favorite memories.
“We really like to buy backpacks and things with more wiggling room for the kids’ own style. The list is so specific, so it’s fun to be able to pick their own,” Kroll said. “My son quickly finds out what he wants, and my daughter is trying it out with about ten backpacks while looking in the mirror.”
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