Consumer Behavior

Shoppers will spend less on back-to-school while seeking savings

Adobe Stock

August 15, 2023

Spending for school suppliers for K-12 students will dip by 10% this year, according to a Deloitte back-to-school survey that also revealed shoppers are planning ways to economize.

The 2023 Back-to-School survey examined consumers' spending intent amid persistent inflation and shifting priorities, according to a press release.

Additional findings include:

• The overall back-to-school market is expected to decrease to $31.2 billion as spending on clothing (14%) and technology (13%) is down year-over-year, in favor of essential school supplies (up 20% year-over-year).
• Consumers are prioritizing retailers with competitive pricing: 80% cite mass merchants as their preferred retail format, followed by online retailers (60%), and off-price retailers and dollar stores (both at 33%).
• Parents plan to get a head start on back-to-school shopping, with 59% of spending expected to have occurred by the end of July (up from 53% last year). This is due to 35% of shoppers believing that better deals occur earlier in the season rather than later (26%).
• Despite financial concerns, six in 10 parents shopping for clothing/accessories and technology items are willing to splurge on better quality products to treat their child.
• More families plan to pay with cash and/or debit cards this season (77%, up from 72% last year) than credit cards (52%) as high interest rates weigh on finances.
• The survey was conducted online using an independent research panel between May 26 and June 1, 2023 and surveyed 1,212 parents with at least one child attending school in grades K-12 this fall.