*The following is excerpted from an online article posted on StudyFinds.
It’s hard to believe, but back-to-school shopping is already in full swing and this year it seems parents have no qualms about ensuring their kids are prepared. New research shows that parents are sparing no expense, spending an average of $843 on each child!
The survey of 2,000 American parents of school-aged children and shows that projected spending on each child is up by 19 percent from an average of $707 last year.
With spending up, it is no surprise that more than a third of parents (37%) are starting their back-to-school shopping earlier this year. In fact, half of parents (51%) will have started their back-to-school shopping before August arrives! Of those staying ahead of the game and getting their shopping finished early, two in three (67%) are doing so to help them budget better, while 59 percent want to take advantage of sales.
Conducted by OnePoll on behalf of Affirm in July 2021, the survey found that clothes (70%), school supplies (43%), and backpacks (39%) are the top things American parents are prepared to splurge on for this back-to-school season.