Parents Spend Less on Back-to-School Gadgets but Hunt for Online Deals
Photo: CNET
Quick answer
Parents are cutting back-to-school tech spending due to inflated chip prices and inflation, but AI-driven deal hunting and promotions are driving up overall costs.
A Deloitte study reveals that in 2024, parents reduced spending on school tech by 16%—down to $417 per child. Meanwhile, clothing expenses rose by 22%, reaching $323. The primary driver is soaring memory chip prices, which have inflated laptops, smartphones, and gaming consoles by hundreds of dollars. Experts warn this trend will persist in the near term.
Despite cost-cutting efforts, 80% of parents actively use digital tools to hunt for deals. Those leveraging search engines, social media, and generative AI (e.g., ChatGPT*, Gemini, or Claude) spend an average of $206 more—$737 per child. Adobe Analytics data confirms AI-assisted shoppers spend 53% more time on retailer sites and make purchases more frequently.
Parents are also closely tracking promotions from major retailers like Amazon and Walmart. 68% plan to shop during sales events, while 54% admit to making spontaneous purchases driven by discounts. A notable group—31% of respondents—are “hyper deal-seekers,” using four or more savings strategies (e.g., switching to budget brands, bulk buying, cashback apps). Surprisingly, they spend 14% more as they expand their shopping lists.
Retailers are already integrating AI to personalize offers: 67% of surveyed executives plan to deploy AI for targeted campaigns and loyalty programs within a year. Top AI applications include price comparisons (22%), product research (19%), and budgeting (15%).
Common questions
- Why are parents spending less on back-to-school tech?
- Memory chip shortages and inflation have driven up laptop, smartphone, and gadget prices by hundreds of dollars. Parents are opting to save by extending the lifespan of older devices.
- How does AI impact back-to-school shopping?
- Parents use generative AI to compare prices, research products, and read reviews. This increases their spending by 30–50% as they make more impulse purchases influenced by promotions.
- What cost-saving strategies are parents using?
- Families are switching to budget brands, private labels, bulk purchases, and cashback services. Those using four or more strategies spend 14% more due to expanded shopping lists.
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