• by Sarah Mahoney  @mahoney_sarah, August 3, 2023

Parents may be resigned to spending more to outfit their kids for the coming school year. But they are also intensifying the quest for savings, according to new research from ICSC.

There’s been an increase of 5% who say they plan to shop at discount stores, such as Target and Walmart.

Consumers are watching prices more closely, with 91% saying their back-to-school purchases are influenced by promotions, and 90% saying inflation and rising prices will impact their purchases. And 45% say they want to purchase items when they’re on sale, while 38% seek bargain brands.

By pushing spending later in the season, with 44% planning to do most spending in August, consumers are hoping to find better deals.

On average, the survey reports that about 48% of adults in the U.S. plan to buy some back-to-school items, spending an average of $969 during this season. That’s an increase from $911 in 2022.

“Most of that increase is due to inflation,” says Stephanie Cegielski, vice president of research and public relations of ICSC, a trade organization that represents the shopping center industry.

About 60% of moms and dads say the increase is due to higher prices and inflation. Only 43% said the same in last year’s survey.

By category, they intend to spend the most on electronics, apparel, furniture, school supplies and sporting goods.

While consumers are showing remarkable resilience, another sign of renewed discipline is that 72% say they’ve got a budget this year, and they’re sticking to it.

Cegielski tells Marketing Daily that some of the increased demand for electronics and furniture is part of the natural replenishment cycle. “Everyone stocked up on those things early in the pandemic because they had to. Now it’s three years later – that’s the average lifespan of many electronics. And a third-grader needs a different kind of a desk than a first-grader.”