A new Debt.com survey shows the hottest buys will be fashionable
FORT LAUDERDALE, Fla., Aug. 17, 2021 /PRNewswire/ – With students returning to the classroom for the first time in a year, back-to-school shopping is taking on a fashionable flair.
A Debt.com survey shows 6 in 10 parents will spend the most on clothes this season, with less than 23 percent saying technology – such as laptops and tablets – will consume most of their budget. Fewer than 18 percent of parents will spend the most on “traditional school supplies” such as backpacks and notebooks.
It’s not hard to understand why clothes are trumping tech this back-to-school season, says one expert.
“Parents spent a year sheltering at home, and their children spent a year learning at home,” says Debt.com chairman Howard Dvorkin, CPA. “We bought technology products last year to get us through daily Zoom meetings. So, for once, we already have the latest tech but not the latest fashions.”
Another finding is that more than half of parents expect to spend more this year than they did in pre-pandemic 2019 – and not by a little. Almost a third will spend $200 more this year making back-to-school shopping the second-largest spending event of the year, making it crucial to keep a budget.
Howard Dvorkin is surprised it’s not even more than that.
“Back-to-school shopping is the first real spending spree after the worst of the pandemic,” he says. “Despite the Delta variant, parents and students are yearning to return to normal, so they want to make up for lost time. And it’s about time.”
Methodology: Debt.com surveyed over 400 people and asked seven questions about how much they plan to spend on back-to-school shopping this year. People responded from all 50 states and Washington, DC and were aged 18 and above. The survey was conducted from July 30, 2021, to August 10, 2021.
About: Debt.com is the consumer website where people can find help with credit card debt, student loan debt, tax debt, credit repair, and more. Debt.com works with vetted and certified providers that give the best advice and solutions for consumers ‘when life happens.’
