Eiither the economy is improving somewhat or more parents are sacrificing to get their kids geared up for school this year, a survey by Deloitte & Touche LLP says.
Cited in a Baltimore BusinessJournal story, the survey says 64 percent of parents plan to spend less this year than last year on erasers, protractors, binders and other such staples. Last year, the survey found that 71 percent of parents were spending less than the year before.
Not exactly great news for edcuation, but at least the rate of speed at which parents are devaluing their kids educations is slowing, huh?
The overall picture is bleak for higher-end supply sellers, but great for dollar stores:
“The overall tone is basically that the consumer is going to be very cautious about their spending,” said Tony Torres, a Deloitte & Touche partner based in Kansas City, Mo.
Ninety percent of respondents said they will shop at discount or value stores, 40 percent said dollar stores, 29 percent said office supply stores, and 28 percent said off-price stores.
With school starting up soon, now is the time to open up that 75 cent store you’ve always fantasized starting.
Deloitte survey: Fewer consumers plan to cut back-to-school spending [Baltimore Business Journal]