Wealthier US Parents Cut Back-to-School Spending 20% as Rising Prices Tighten Budgets
Updated
Updated · Bloomberg · Jul 9
Wealthier US Parents Cut Back-to-School Spending 20% as Rising Prices Tighten Budgets
3 articles · Updated · Bloomberg · Jul 9
Summary
$200,000-plus US households plan to spend 20% less on back-to-school shopping than in 2025, according to a Deloitte survey conducted in late May.
More broadly, parents earning over $100,000 expect to reduce school-related purchases this year, extending signs of caution among higher-income consumers.
Rising prices are driving the pullback, with a majority of surveyed families citing tighter wallets rather than stronger demand.
Less-wealthy families are also adjusting by trading down to cheaper products, suggesting back-to-school inflation pressure is hitting across income groups.