Jul 28, 2016
AUSTIN, Texas, July 28, 2016 /PRNewswire/ -- Back-to-school season is approaching once again and parents are stressing out about the cost of back-to-school essentials. According to a survey conducted by digital savings destination RetailMeNot, 28% of parents say back-to-school shopping puts a strain on their family's finances.
Over 86% parents plan on shopping for new back-to-school supplies this year, spending an average of $273 for per child. Though 93% of parents say they're eager for their children to return to school this fall, parents are nervous about how much they'll need to spend this year.
"The majority of parents get excited at the thought of their kids heading back to school," says Sara Skirboll, shopping and trends expert for RetailMeNot, "but simultaneously feel a bit stressed at the thought of back-to-school expenses. Clothes, books and supplies are costly, so what we're seeing is that more parents are looking for the best deals to maximize their savings."
Fall Into Savings
Almost 1 in 3 (32%) parents say they're looking forward to back-to-school sales when their child returns to school, with 65% planning on searching for the best deals and discounts ahead of their back-to-school shopping trips this year.
As parents search for the best possible savings during their shopping trips, 46% of Americans have said they will change their budget to rethink and improve their savings and shopping habits this year.
This is also a great opportunity for parents to teach their kids about finances. More than half (54%) of parents plan to teach their children the responsibility of saving money and how to do so. Some parents plan to take it a step further, with 37% planning to teach their young ones how to search for coupons and deals so they can shop more efficiently when it comes time for them to make their own purchases.
Many parents will purchase new technology for their children this school year. Coincidentally this is also one of the best times to buy electronics, with more savings than during the holiday season! When it comes to gadgets, 26% of parents plan to buy their child a tablet; 21% expect to purchase a laptop; and 20% of parents will buy their child a smartphone.
While big savings on new tech promises to be popular this back-to-school season, the basics will still be in high demand. Almost 2 in 5 (38%) parents plan to purchase textbooks, and 28% expect to buy a scientific calculator. Classic school items such as notebooks, pens and pencils are also still on parents' to-buy lists.
For more information or to schedule an interview with Sara Skirboll, contact Katie Hammill.
The RetailMeNot June 2016 survey was conducted between June 10-16, 2016, among 1,007 nationally representative Americans ages 18+, using an e-mail invitation and an online survey. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About RetailMeNot, Inc.
RetailMeNot (http://www.retailmenot.com/corp/) is a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The company enables consumers across the globe to find hundreds of thousands of digital offers to save money while they shop or dine out. During the 12 months ended March 31, 2016, RetailMeNot, Inc. experienced over 700 million visits to its websites. It also averaged 19.2 million mobile unique visitors per month during the three months ended March 31, 2016. RetailMeNot, Inc. estimates that approximately $4.8 billion in retailer sales were attributable to consumer transactions from paid digital offers in its marketplace in 2015, more than $600 million of which were attributable to its in-store solution. The RetailMeNot, Inc. portfolio of websites and mobile applications includes RetailMeNot.com in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk in the United Kingdom; retailmenot.de in Germany; Actiepagina.nl in the Netherlands; ma-reduc.com and Poulpeo.com in France; RetailMeNot.es in Spain, RetailMeNot.it in Italy, RetailMeNot.pl in Poland and GiftCardZen.com and Deals2Buy.com in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit http://investor.retailmenot.com.