Rising prices represents the main concern of parents regarding back-to- school spending (57%), with more than a half (54%) predicting a slowdown in the economy over the next six months, and 33% saying their household financial situation has worsened since last year, according to Deloitte 2022 back-to-school survey. More than a third (37%) expect to spend more this year than a year ago on school products, mainly due to higher prices.
Raluca BâldeaFoto: Deloitte Romania
At the same time, 64% of participants to the survey suspect retailers are artificially raising prices in order to profit off of inflation, but 77% say they will shift to another brand if their preferred products are too expensive or are not in stock (63% are expecting stock-outs during the back-to-school shopping season, due to supply chain disruptions).
The budget allocated for each child for this purpose will rise, this year, by 8%, up to an average of USD 661.
On the other hand, technology-based products are losing ground as pandemic restriction are lifted – spending on such products is down 8% year-on-year, after 37% growth in 2021, while expenses on traditional school supplies will increase by 14%,