Rising prices represents the main concern of parents regarding back-to-school spending (57%), with more than a half (54%) predicting a slowdown in the economy over the next six months.
33% are saying their household financial situation has worsened since last year, according to Deloitte 2022 back-to-school survey.
More than a third (37%) expect to spend more this year than a year ago on school products, mainly due to higher prices.
At the same time, 64% of participants to the survey suspect retailers are artificially raising prices in order to profit off of inflation, but 77% say they will shift to another brand if their preferred products are too expensive.
The budget allocated for each child for this purpose will rise, this year, by 8%, up to an average of EUR 649.
On the other hand, technology-based products are losing ground as pandemic restriction are lifted – spending on such products is down 8% year-on-year, after 37% growth in 2021.
The study highlights the gradual return of consumers to physical stores, which account for 49% of the options, up from 43% in 2021, while online retailers attract 35% of shoppers, versus 39% last year.
Half of parents choose sustainable products for which they are likely to spend 22% more than the average shopper, and 29% prefer to buy a used or refurbished product for their children.
Among those who do not choose sustainable products, 50% say they are not affordable, and 20% say it’s difficult to identify those which are genuinely sustainable.
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