The summer holidays are just a week away, but parents are already planning their back-to-school spending. UK parents are expecting to spend an average of £452.40 per child – the equivalent of £2.3 billion* – with many concerned about how they will foot the bill.
According to the new research from retail marketing consultancy Gekko Group, back-to-school spending, including uniform, stationery and technology, will set primary school parents back an average of £490.80 per child. Parents of secondary school-age children will spend an average of £422.90, while back-to-school spending for college or sixth-form students will amount to an average of £390.20.
The cost-of-living crisis is taking its toll, with nearly three quarters (71%) of parents agreeing that rising costs have made it much harder to afford back-to-school spending. As a result, 61 per cent are worried about the cost of the items they need to buy before the new academic year begins. One third (33%) of school parents will be drawing on savings, but others will rely on borrowing, with three in 10 (29%) putting costs on credit cards, and one in 10 (9%) even borrowing from family to foot the bill.
With three quarters (76%) of schools expecting children to have access to their own laptop or tablet, parents are faced with finding extra cash for technology products – adding to the financial strain. The 23 percent of parents who will need to buy a laptop or tablet before September will spend an average of £511.40 per child.
A lack of technological know-how is making buying laptops and tablets for their children even more stressful for parents. Only 12 percent of schools have suggested specific products, leaving parents to get to grips with the technical specifications they have set (18%) or completely at sea without any suggestions or specifications at all (46%).
One in five (18%) say they find it hard to understand variances between different laptops and tablets, while 17 per cent do not know enough about the technical specifications to make good purchasing decisions. To support these decisions, a quarter (27%) would value clearer information on specifications and features of technology, but ultimately one in five (19%) rely on in-store or specialist help to select the right technology for their kids.
Parents are also balancing their lack of knowledge with pressure from their children, with seven in 10 (70%) agreeing that prioritising what their children need with what they want is challenging. A quarter (25%) want to buy the ‘latest’ or ‘coolest’ tech for their kids, and 21 per cent are concerned about the impact on their child if they choose entry level options.
Daniel Todaro, CEO at Gekko Group, said: “Back-to-school spending is looming large for parents - and with rising costs, it will be more expensive than ever this year. The addition of laptops and tablets to the long list of requirements is an extra challenge due to both the cost and the technical specifications.
