Higher prices, evolving technology complicate back-to-school shopping

By Carson Hartzog The Minnesota Star Tribune Color-coded folders and notebooks A fresh stash of pens and pencils A new outfit Related Articles methods to become your own consumer advocate Americans haven t saved for retirement These states are creating automatic savings plans The CFPB is still standing barely But is it doing anything Sought on Reddit How do I recover from a big money mistake Grad school debt holding you back How to get it under control Millions of American students from preschool through college and their often bankrolling parents back-to-school shop ahead of each fall But as prices rise innovation evolves and new products hit the shelves families are seeking methods to keep checking off the school supply list affordably When I was young I had to go to the grocery store I go now and that s like three or four items explained Matt Marsh Minneapolis managing partner at Deloitte Everything costs more So families are getting squeezed a bit and it s creating a level of anxiety According to PwC s inaugural back-to-school survey nearly in parents noted they ll spend the same or more than they did last year on school supplies even with higher prices and economic volatility There s still this underlying element of consumer confidence stated Kelly Pedersen a partner at PwC Even though we hear a lot of uncertainty in the arena people still need to shop for back-to-school Plan and budget Before shopping take inventory of last year s supplies About a third of parents plan to reuse items according to PwC Budgeting paired with a specific shopping list can prevent impulse buying In Minneapolis parents Deloitte surveyed expected to spend per child this year That s more than the national average Niki Kroll of Minneapolis typically starts her back-to-school shopping in July and has already noticed higher prices Various name-brand notebooks folders and backpacks seem to be more expensive than previous years But she has had success finding pencils glue sticks and other basics on sale Those surveyed planned to spend less on clothing and more on school supplies They also plan to spend more of their budget on tech than last year though experts expect the total of those tech purchases to stay flat in comparison to last year s per family Assess need As kids progress in school more advanced classes might require new tech purchases like a different calculator model nearly each year Delaying that purchase if attainable or downgrading it such as buying an older or used version can free up room for more necessities like binders scissors and pencil cases Consider asking your child s guide what s essential on day one vs what can wait until later in the year wrote Ted Rossman Bankrate senior industry analyst in an analyst note Shop now More than a third of parents PwC surveyed declared they re starting earlier this year to snag better prices and beat the rush There s this thought that the better deals are out there earlier before the heart of back-to-school in August Pedersen noted Deloitte s survey ascertained more than two-thirds of Minneapolis parents plan to finish the greater part of their school shopping by the end of July They were able to cash in on modern sales like Target s Circle Week and Amazon s Prime Day But several retailers are hosting back-to-school promotions through August Target broadcasted Tuesday Back-to-School-idays discounts from July -Aug The retailer is maintaining its prices on key items and specific stores will have personalization stations with embroidery and patches for backpacks lunchboxes towels and pillows Walmart is offering lower prices than last year on select items such as highlighters erasers and notebooks Use AI One in five parents informed PwC they plan to use artificial intelligence to find the best deals this season The biggest change we ve seen with AI shopping is the agent concept basically putting in your shopping list and budget to optimize your list and what you buy Pedersen reported It s really taking all of the searching work out of having to do back-to-school shopping AI tools like app and website ChatGPT allow users to paste in a list of school supplies and make requests like find these items for the cheapest prices online or in-store within miles of Minneapolis Users can also ask to search specific stores and keep the total under a certain amount Don t fall for influencers Deloitte s evidence shows parents who use social media are likely to spend times more on back-to-school than others Higher instruction bigger wages better access to the internet and more leisure time spent online all play a role Generally retailers are moving marketing dollars toward influencers and influencers are creating behaviors that might product in that splurge purchase Marsh declared More than two-thirds of Minneapolis parents announced their child s preferences often steer them to spend more and are willing to spend a little extra on their child s first-day outfit compared with nationally Make it fun In Bloomington Mall of America is hosting giveaways limited-time promotions and events for back-to-school Shoppers can scan the Mall of America app once per day for a chance to win a gift card or rewards points The mall plans to give away more than in gift cards between Aug - Deals are also available for the Nickelodeon Universe theme park and Crayola Experience from Aug -Sept For parents and families coming to Mall of America it s a one-stop shop reported Jill Renslow Mall of America s chief business progress and marketing officer It s a destination where people have that tradition of coming for not only shopping but to go on selected rides or grab lunch A multitude of cities also offer local events for free or low-cost school supplies just look on city events calendars In store vs online Younger parents are leading a small resurgence of in-store shopping Every year in our stats Gen Zs are the ones who are visiting physical stores the the bulk Pedersen declared They value in-person experiences and in chosen cases they re willing to pay a premium price for that Gen Z also revealed a higher likelihood of buying in-store In previous years younger shoppers more commonly browsed stores to try on or test products but made final purchases online Income also plays a role Families earning under are nearly twice as likely to shop only in-store while higher-income households tend to prefer online shopping Be strategic While inflation has cooled to prices are still up nearly compared with pre-pandemic levels according to Bankrate It s not like when the rate goes down prices go down They just don t go up as fast anymore Marsh stated But there s a lot of economic anxiety about pricing Looking for generic versions of favorite brands or comparing prices across stores can save money So can thrifting Pedersen disclosed About a fifth of shoppers disclosed they re looking to shop secondhand Shoppers can stack discounts by combining a rewards credit card with store promotions or other available offers which can add up to considerable savings Rossman wrote in an analyst note For Kroll she enjoys letting her kids pick their the majority personal items like lunchboxes Despite higher prices those moments are specific of her family s favorite memories We really like shopping for backpacks and things that have more wiggle room for the kids own style The lists have gotten quite specific so it s fun when they can pick out their own stuff Kroll commented My son knows without delay what he wants and my daughter tries on about backpacks while looking in the mirror The Minnesota Star Tribune Visit at startribune com Distributed by Tribune Content Agency LLC