Big budgets for Back to School 2024?

Parents preparing for back-to-school shopping have historically high budgets

Bad news procrastinators: 40% of parents have already started their 2024 back-to-school shopping as of early July. A plurality (38%) plan to get started in early August, but they’ll miss out on the July sales. Amazon Prime Day is the most popular discount event for parents stocking up for the upcoming school year, with 46% saying they’re planning to shop the sale.

June 2022 saw inflation reach historic highs and with that parents’ back to school budgets increased: the share of parents planning to spend more than $500 jumped from 7% in 2021 to 25% in 2022. Two years later, those higher spending levels remain. To help meet shoppers where they are retailers have been reducing prices store-wide and introducing value-oriented store brands to help families get the essentials they need without breaking the bank.

Deals matter when it comes to school supplies. Do your "homework."