Shoppers Spending Less on Back to School, Report Says - ABC5 News Des Moines, IA

Shoppers Spending Less on Back to School, Report Says

By: Jason Rantala

@jarantala

jrantala@myabc5.com

Back to school shopping is now in full swing, but shoppers may be keeping a closer eye on their budgets this year.

A recent survey by financial advisory firm Deloitte suggests parents will be even more frugal than last year.

The study says consumers will spend an average of $428 on back to school, down from the $600 average spent last year. 

Deloitte says while the economy is improving, consumers are still weary to spend.

"I'm spending less, trying to make it go a little further," said shopper Rebekah Kuyrkendall.

One reason people might be spending less: increased school supply prices, up more than 7 percent on average in the last year alone.

"The prices keep going up, and incomes keep going down, and you end up having less to work with."

One way people save money is by shopping discount retailers, at least for back-to-school clothes.

"I like to price check before I come."

"That $2.50 item, if it was $3.50 or $4.50 they may not buy it, but if it's a dollar less, they'll definitely jump on it," said Stephanie Martin, Owner of Once Upon A Child.

The survey also found that parents of college students will be the top spenders this year.  They are expected to spend an average of $900 per student.

Back to school shopping accounts for more than $26 billion in sales.

 

 

 

 

 

 

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