Consumer Behavior

Back-to-school spend should be on par despite inflation

Adobe Stock

July 26, 2023

This year most consumers (83%) should spend the same as last year, or more, on back-to-school shopping, and households appear ready to absorb the impact of inflation rather than making budget cuts.

Those are findings from a TransUnion research report that also revealed that the number of households planning to buy fewer school-related items dropped significantly to 10%, compared to 34% in 2022.

Among those planning to spend the same this year, 62% plan to spend less than $250 per child on back-to-school items, which is roughly the same as households who plan to spend less on back-to-school items this year. About half of families planning to spend more this year are budgeting between $250 and $500 per child, while 14% said they plan to spend more than $500 per child, according to a press release on the findings.

The research was conducted in June 2023 and surveyed more than 1,000 U.S. adults.

"With 60% doing as well or better than planned, families appear to be in a good financial position this year," Cecilia Seiden, vice president of TransUnion's retail business, said in the release. "Increases in back-to-school spending seem to be driven more by changes in what children need for school, rather than inflation."