A new Deloitte survey shows parents plan to spend less on technology for the upcoming school year while increasing their use of online tools to find deals. Total spending per child is projected at $557, continuing a four-year decline.
Deloitte's 19th Back-to-School survey of 1,207 parents found tech spending averaging $417 per child, down 16 percent from last year. Clothing spending is expected to rise 22 percent to $323.
The online poll, conducted May 22 to 29, showed 57 percent of parents expect the economy to worsen in the second half of the year. Higher tech prices linked to memory chip shortages are contributing to the shift.
Eighty percent of parents are using internet tactics such as search, social media and generative AI tools like ChatGPT to compare prices and research products. Those using AI plan to spend $737 per child, $206 more than those relying only on search and social media.
Retailers are advised to note that digitally engaged shoppers spend more, with 68 percent of parents planning purchases during promotional events from major merchants.
