Back to School Survey

A Deloitte survey conducted between July 5 and July 11 of 1000 parents found that 31% plan to spend more this year than last year on back to school items, 55% will spend about the same, and 14% will spend less. Why spend more? 60% cited that it just costs more while 32% said school budget cuts are causing the extra outlays. What's the top three items to buy? 94% said school supplies, 88% said clothes, and 79% said shoes. And 43% intend to spend at least $250. But they will not just spend blindly -- of the 40% who owned smartphones, 63% noted they will use them to ferret out the best prices and discounts.

Of note, among respondents earning $100,000 or more, 82% contended their financial situation is the same or better than last year and only 31% noted they were likely to purchase more lower-priced items due to economic concerns. For those making under $100,000, 66% said their financial situation is the same or better versus a year ago and 51% will be looking to purchase more lower-priced items due to economic concerns.