Inflation has gone down slightly, but experts are still predicting an uptick in back-to-school spending this year.
The retail service JLL predicts spending on school supplies will increase over 15% this year, with parents spending on average $367 per child.
KPMG predicts a 21% increase in spending, with parents averaging $377 per child.
“In addition to things being a little bit more expensive than usual, it could also be the case of maybe they had to cut way back last year,” said Kristin McGrath, an editor at RetailMeNot. “Maybe they had to make that laptop stretch a little bit longer due to inflation, so they’re coming at it this year with things they absolutely have to replace.”
McGrath says there are ways to save.
Office Depot and Office Max have 60% off school supplies and Staples has some items as low as 40 cents. Amazon Prime members who spend $50 on back-to-school supplies will get 20% off.
McGrath says if you see a great deal, it may be best to buy in bulk.
“Things you know they might lose during the school year or go through quickly,“ she said. “You might be spending a little more in the outset but if you’re thinking in the longterm and you have that money now, it can save you in the long run.”
She also says look for retailers that offer free gift cards with purchases, which Target commonly does. Also, try rewards programs and cash-back shopping.
RetailMeNot has a special list of savings with promo codes and discounts. To shop, click here.
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