As Inflation and Uncertainty Abound, Georgia Parents’ Back-to-School Spending Surges
Monday, August 29th, 2022
As students in Georgia head back to school, Deloitte issues its 2022 back-to-school survey results. Despite economic concerns, parents in the Peach State planned to spend an estimated $873 per child on back-to-school shopping, 32% higher than the national average of $661 per child.
Key Findings from the survey:
Higher Spend Compared to National Average: Although 6 in 10 Georgia parents are concerned about inflation, they still intend to spend 32% more than the national average on back-to-school shopping. The average back-to-school spend per child in Georgia is estimated at $873, compared to the national average of $661 per child.
Consumers Reassess Priorities: 48% of Georgia parents are concerned about their child’s mental health, and 1 in 3 concerned parents have purchased products or services to address this issue. Parents are also gravitating toward environmentally friendly or responsibly sourced products and are prepared to spend for them; these parents will spend 22% more than the average back-to-school shopper.
Technology Continues to Grow: Georgia parents are spending 17% more than the national average on technology products; Georgia’s average spend per child on tech is $557, compared to $476 nationally. Five in 10 parents are dabbling in emerging retail technology this year (versus 42% nationally), including digital wallets, live/interactive video streaming, shoppable content, social media, virtual reality and more.
Inflation and Stock Outs Could Affect Brand Loyalty: 63% of Georgia parents expect stock-outs during the back-to-school shopping season, and 8 in 10 will switch brands if their preferred brand is not in stock. Similarly, 80% of Georgia shoppers surveyed will change brands if the price is too high.
"Even as economic and inflationary pressures sit top of mind, parents seem resilient and determined to ensure their children get the school supplies needed to succeed this coming year. Retailers that remain conscious of this determination, while being mindful to address shoppers' ongoing economic concerns, could earn trust and position themselves strongly," said Nick Handrinos, vice chair and U.S. leader, Retail, Wholesale & Distribution and Consumer Products, Deloitte LLP.
To request the complete Back-to-School survey, please contact Alison Zink at email@example.com.