Back-to-school shopping is in full swing, with more than half of consumers already buying supplies for the upcoming classes, according to a survey from the National Retail Federation. With spending expected to reach $38.8 billion, according to the NRF, shoppers may want to do some homework before blowing the family budget.
Depending on the age of the student, the bill for back-to-school supplies can vary. For example, the NRF projections include those shopping for college and factor in items like laptops, clothing and shoes.
Other related costs include items for the extracurricular activities that 86 percent of parents enroll their children in for fall classes. The average cost of supplies, including fees and equipment, is $582 per child, a Deloitte study found.
According to a survey of 1,200 U.S. parents of school-age children conducted in May, parents plan to spend an average of $586 per child on school supplies this year.
With that in mind, here are some tips to help you save money when shopping for school supplies.
Colored pencils, glue sticks and drawing paper
The FinanceBuzz website provides an overview of the most expensive and cheapest stores where you can do your grocery shopping for children attending primary school, secondary school or high school.
The site tallied the total cost of 20 basic items: crayons, glue sticks, drawing paper, markers, pencil case, safety scissors, scientific calculator, notebooks, ruler, binders, loose-leaf paper, folders, backpack, lunch box, pencils, pens, highlighters, combination lock, whiteboard markers and a box of tissues. The average cost of those supplies came to $106.73, according to data the site collected from retail websites.
When looking at 10 major retailers, FinanceBuzz found that Walmart was the least expensive, with prices for those 20 common items coming in at $67.37, or 37% below average. At Dollar General and Target, those items could also be had for under $100, at $70.50 and $83.25, respectively. Rounding out the list came in at $101.60 at Staples, the fourth-cheapest store to stock up on school supplies, according to the site.
Michaels had the most expensive school supplies, with the FinanceBuzz team calculating the cost at $185.28, nearly three times the cost of the same products at Walmart. Walgreens and Office Depot were the second and third most expensive, with the former costing $134.61 and the latter $121.55. The 20 items were listed on Amazon for $119.07, making the retail giant the fourth most expensive.
According to the website, buying groceries at Meijer cost $109.25 and at Kroger $114.01. Both supermarkets had now evolved into “everything stores.”
Many people choose to shop online at Amazon for its convenience, but shipping costs can exceed the value of some products, causing Amazon to raise those prices. “As a result, school supplies such as crayons, drawing paper, and rulers are more expensive to purchase from Amazon than from any other retailer,” the researchers noted.
Research options, discounts
Consumer Reports advises taking the time to research your options, including deals, discounts and price comparisons.
Another possible cost-saving measure is to ask teachers what supplies they need immediately and what purchases can be postponed because there are deals available after school, the nonprofit said.
Other tips from CR include looking for student discounts, as some retailers and brands are currently running special promotions — and some offer student discounts year-round. Those can include deals on tech, apparel, dorm supplies, phone plans, and online subscriptions.
Take advantage of sales tax exemptions, too. More than a dozen of the 45 states that charge sales tax have summer sales tax exemptions.
CR also advises those looking for the biggest bang for their buck to spread out their shopping. Wholesale clubs can be a particularly economical move for large or multi-family households who can divide up their bulk supplies.
You can also save money by keeping an eye on sales after you’re done shopping. If something goes on sale after you buy it, you may be able to get some of your money back, depending on the retailer’s policy. Some retailers allow up to two weeks for such requests, CR said. If that approach doesn’t work, you can also return the item and buy it again, the consumer site said.
