Back-to-school spending to set UK parents back £2.3 billion

• The average back-to-school spend has now reached £452.40 per child
• 61 percent of parents are worried about the financial burden of back to school 
• 29 percent will use credit cards while one in 10 will borrow from family to afford the rising costs of uniform, stationery and technology
• Requirements for technology add to costs and stress, with the 23 percent required to buy a laptop or tablet this year planning to spend an average of £511.40 per child

The summer holidays have just started for many, but parents are already planning their back-to-school spending. UK parents are expecting to spend an average of £452.40 per child – the equivalent of £2.3 billion* – with many concerned about how they will foot the bill.

According to the new research from retail marketing consultancy Gekko, back-to-school spending, including uniform, stationery and technology, will set primary school parents back an average of £490.80 per child. Parents of secondary school-age children will spend an average of £422.90, while back-to-school spending for college or sixth-form students will amount to an average of £390.20.

The cost-of-living crisis is taking its toll, with nearly three quarters (71 percent) of parents agreeing that rising costs have made it much harder to afford back-to-school spending. As a result, 61 percent are worried about the cost of the items they need to buy before the new academic year begins. One third (33 percent) of school parents will be drawing on savings, but others will rely on borrowing, with three in 10 (29 percent) putting costs on credit cards, and one in 10 (9 percent) even borrowing from family to foot the bill.

With three quarters (76 percent) of schools expecting children to have access to their own laptop or tablet, parents are faced with finding extra cash for technology products – adding to the financial strain. The 23 percent of parents who will need to buy a laptop or tablet before September will spend an average of £511.40 per child.

A lack of technological know-how is making buying laptops and tablets for their children even more stressful for parents. Only 12 percent of schools have suggested specific products, leaving parents to get to grips with the technical specifications they have set (18 percent) or completely at sea without any suggestions or specifications at all (46 percent).

One in five (18 percent) say they find it hard to understand variances between different laptops and tablets, while 17 percent do not know enough about the technical specifications to make good purchasing decisions. To support these decisions, a quarter (27 percent) would value clearer information on specifications and features of technology, but ultimately one in five (19 percent) rely on in-store or specialist help to select the right technology for their kids.

Parents are also balancing their lack of knowledge with pressure from their children, with seven in 10 (70 percent) agreeing that prioritising what their children need with what they want is challenging. A quarter (25 percent) want to buy the ‘latest’ or ‘coolest’ tech for their kids, and 21 percent are concerned about the impact on their child if they choose entry level options.

Daniel Todaro, CEO at Gekko Group, said: “Back-to-school spending is looming large for parents – and with rising costs, it will be more expensive than ever this year. The addition of laptops and tablets to the long list of requirements is an extra challenge due to both the cost and the technical specifications.

Brands have an opportunity to win parents’ loyalty for the long-term if they can make the process painless. Parents are already relying on specialist advice, and by anticipating needs and ensuring that in-store teams have the knowledge to answer questions, brands and retailers can ease some of the pressures parents will be facing in the run up to the start of the new school year.” 

Image courtesy of Pexels. Photo credit: Freestockpro.

* According to ONS population estimates, there are 5,123,790 children aged between 4-18 in the UK. With an average back-to-school spend of £452.40 per child, parents will spend 5,123,790 x £452.40 = £2.3 billion.