Kansas City, MO – As summer winds down, families nationwide are preparing for the annual back-to-school shopping season. While this tradition represents a significant financial commitment for households with school-aged children, smart budgeting strategies can help families manage costs effectively while teaching valuable financial literacy lessons. With inflation and economic pressures continuing to impact household budgets, understanding current spending trends and implementing clever shopping approaches has never been more important.
The back-to-school shopping season ranks as the second-largest retail event of the year, following only the winter holiday shopping period. This year’s spending patterns reflect both economic realities and changing consumer priorities, with families making strategic decisions about where to allocate their back-to-school dollars. Education experts note that this annual shopping ritual also presents an excellent opportunity to involve children in real-world financial decisions.
- You’ll likely spend less on back-to-school shopping this year, but not by much, a survey shows. Source: wdsu.com
According to the latest National Retail Federation survey, American families with students in elementary through high school will spend an average of $858.07 on back-to-school shopping this year. This total includes essential categories such as clothing and accessories, shoes, school supplies, and electronics or computer-related equipment. The survey, which polled approximately 7,600 consumers about their shopping plans, provides valuable insights into how families are approaching this significant annual expense.
Interestingly, this year’s average spending represents a modest 2% decrease from last year, when the typical family spent just over $874. However, when viewed from a longer-term perspective, the trend shows substantial growth in back-to-school budgets. Over the past decade, K-12 back-to-school spending has increased by 26%, reflecting both inflation and the growing importance of technology in education. The survey data reveals that electronics have become the largest spending category, accounting for a significant portion of families’ budgets.
A breakdown of spending categories shows that electronics and clothing together represent approximately 64% of consumers’ school shopping budgets. The average family plans to allocate $295.81 for electronics and computer-related equipment, making this the largest single category. Clothing follows closely at $249.36 per family. These figures underscore the growing centrality of technology in the educational experience, even for younger students.
The remaining budget is divided between shoes and traditional school supplies, with families spending less in these categories. According to the survey data, the average family will spend considerably less on these items compared to electronics and clothing, though they remain essential components of back-to-school shopping. The emphasis on technology reflects the changing nature of education and the increasing importance of digital learning tools.
When aggregated nationally, these individual family expenditures translate to vast economic activity. Americans are projected to spend a total of $39.4 billion on K-12 back-to-school shopping this year, representing a 1.5% increase from last year despite the slight decrease in per-family spending. This apparent contradiction is explained by demographic factors, including a growing school-age population.
Within this overall spending increase, certain categories are seeing more growth than others. The survey indicates that shoes and school supplies are experiencing spending increases, with consumers expected to spend $7.8 billion on shoes and $6.6 billion on school supplies nationwide. Additionally, the survey found that about two-thirds of families have already started their back-to-school shopping, the highest percentage since the NRF began tracking early shopping trends in 2018.
Consumer experts emphasize the importance of developing a strategic approach to back-to-school shopping. “It’s really important more than ever for families to have a strategy when it comes to back-to-school shopping and have a budget in mind,” says Andrea Warrack, a consumer savings expert. This planning phase should begin before setting foot in a store or browsing online retailers, with families taking inventory of what they already have and determining what truly needs to be replaced.
Creating a detailed shopping list based on school requirements and distinguishing between needs and wants can significantly reduce impulse purchases. Financial advisors recommend setting category-specific spending limits within the overall budget and tracking expenditures throughout the shopping season. Many financial planning apps now include specific back-to-school budget templates that can help families monitor their spending across different retailers and shopping trips.
Beyond the practical aspects of budgeting, experts highlight the valuable learning opportunity that back-to-school shopping presents. “This is a great budgeting lesson. Teach them opportunity costs. If we save money on these supplies by reusing, we have more to spend towards something else that maybe they really want,” Warrack suggests. Involving children in age-appropriate ways, parents can transform a routine shopping experience into a practical financial literacy lesson.
For younger children, this might mean helping them understand the difference between needs and wants or setting a small budget for them to manage for a specific category, like lunch supplies. Older students can participate more fully by researching prices, comparing options, and making trade-off decisions. Some families even implement matching programs where they contribute additional funds toward special items if the student saves a portion from allowance or summer earnings.
One of the most effective money-saving approaches begins at home with a thorough inventory of existing supplies. “Checking what you already have at home” should be the first step in the process, according to Warrack. Many households discover partially used notebooks, unused school supplies, and perfectly functional backpacks or lunch boxes from previous years that don’t need replacement. This simple step can eliminate unnecessary duplicate purchases.
For items that do need to be purchased, considering quality and warranties can lead to long-term savings. “Investing in brands with warranties can help save money down the road,” notes Warrack. She points out that “Jansport and Herschel backpacks both offer limited lifetime warranties that cover manufacturing defects. Old Navy’s kids’ clothes and Target’s Cat and Jack brand also both come with warranty guarantees.” The philosophy of ‘spend a little bit more, get better quality that lasts’ often results in fewer replacements throughout the school year.
For families looking to maximize their savings, several strategic approaches can make a significant difference. Store brands represent one of the most straightforward ways to reduce costs without sacrificing quality. “Stores have more power to discount their own brands further. The difference in price is usually about 30 to 50%, so it’s an instant way to save, and you’re really not giving up any quality,” explains Warrack. This applies to everything from basic school supplies to clothing basics.
Additionally, leveraging store apps, loyalty programs, and cashback offers can provide substantial savings, especially when these different discount mechanisms are strategically combined. Many retailers offer special promotions specifically for their loyalty program members during the back-to-school season. Experts also recommend checking what rewards your debit or credit card has available, as many financial institutions offer additional cashback or points for back-to-school categories during this season. These layered savings approaches can significantly reduce the overall financial impact of back-to-school shopping while still ensuring students have everything they need for a successful academic year.
