Parents tighten belts as back-to-school shopping begins, Deloitte finds

As students prepare to head back to the classroom, parents are heading into stores with shopping lists in one hand and economic uncertainty in the other.

Parents of K-12 students expect to spend an average of $557 per child this school year, down just $13 from last year, according to Deloitte’s 2026 Back-to-School Survey published Thursday.

Total spending is expected to remain roughly flat at $30.4 billion, though purchasing power has declined, leading to an effective decline of 6% in planned spending year over year after adjusting for inflation.

The survey found financial concerns are widespread, with 57% of parents expecting the economy to worsen over the next six months, which is the highest share recorded since 2020. Nearly one-quarter also said they are worried about making upcoming payments.

Despite those concerns, families are not cutting spending equally. Lower- and middle-income households expect to spend more than last year, mainly forced by higher prices of school essentials, while upper-middle- and higher-income families anticipate they'll rein in spending as they become more cautious about the economy and household finances. Among the highest-income households – those earning at least $200,000 – 63% reportedly had less money to spend this year, forcing cutbacks.

Read more: High wealth isn’t a shield from inflation, so what’s driving up costs for HNW lifestyles?

Parents are also shifting where they plan to spend their money. Clothing and accessories are expected to see a 22% increase in spending to an average of $323 per child, while technology purchases are projected to fall 16% as families delay upgrading personal devices. If budgets become too tight, clothing is also the category parents say they are most likely to trim.

Many shoppers are looking for ways to stretch their budgets. Nearly one-third of parents qualify as “hyper value-seekers,” meaning they plan to use at least four cost-saving strategies, such as switching brands, shopping at lower-priced retailers, purchasing private-label products or using cashback websites. Those consumers are expected to spend 14% more than other shoppers, suggesting they are focused on maximizing value rather than simply spending less.

Families are also waiting longer to complete their shopping. Less than half of planned spending is expected to occur by the end of July, with more purchases shifting into early August as parents take advantage of seasonal promotions. More than two-thirds of respondents said they plan to shop during summer sales events.

Read more: Back-to-school season has advisors talking tuition strategies

Although spending totals have changed little from last year, household budgets remain under pressure. From postponing purchases to scaling back technology upgrades, parents are finding ways to balance preparing their children for the school year with broader concerns about the economy.