Just 36 per cent of American parents said they would be able to pay for everything their kids need this school year, according to Morning Consult's annual back-to-school shopping report.
As Sarah Longmore finished her back-to-school shopping, the mother of five looked at a US$25 backpack for her preschooler. Soaring inflation had crunched the family's budget, and she decided her daughter could make do with a hand-me-down. She put the backpack back.
"My shopping habits have changed significantly," said Longmore, an HR professional who lives in the Poconos in Pennsylvania with her husband and five children. "Families consider back-to-school and college items an essential category, and they are taking whatever steps they can ... to purchase what they need for the upcoming school year," said NRF President and CEO Matthew Shay. Those sacrifices may include buying off-brand items, hunting for sales and cutting back on discretionary spending, he said.
Wisconsin mother of four Molly Schmitz said she frequently recycles supplies from the previous year, as Longmore did. Corrigan stepped in and bought $140 worth of supplies for her granddaughter, and said she was happy to help her hardworking daughter. But she worries for schoolkids who don't have a grandparent to help.
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