Thrifty Chic may be the new trend for back-to-school shopping this season.
Stung by skyrocketing gasoline and food prices, parents plan to frequent more discount stores than usual, according to two new surveys.
Nearly three-quarters of 5,000 parents polled nationwide for a survey released by the tax and accounting firm Deloitte said they would be cutting back on school spending, with nearly half expecting to slash outlays by more than $100.
The survey, taken July 11 to 14, suggests retailers will be sweating to show gains this summer.
The survey found 70 percent of consumers would be buying "only what the family needs," with 81 percent citing higher pump prices as a main culprit. Other leading budget busters were soaring food prices (70 percent), higher home energy costs (61 percent) and a general concern about the economy (50 percent).
Nearly nine in 10 respondents said they would be doing most of their back-to-school shopping at discount and value department stores such as Wal-mart, Target and Kohl's.
"Strong promotions and must-have brands will help retailers stand out in the crowd as shoppers look for the best bang for their buck on back-to-school purchases this year," said Tracy Mullin, president and chief executive officer of the National Retail Federation.
The National Retail Federation's 2008 Back to School Consumer Intentions and Actions Survey, conducted by BIGresearch from July 1 to 8, found that the average family with school-age children would spend $594.24 on back-to-school purchases, compared with $563.49 last year. Spending on college merchandise, however, will drop 7 percent this year, from an average of $641.56 per person last year to $599.38 this year.
"This year's back-to-school shopper is a bargain hunter at the core," said Phil Rist, vice president of strategy at BIGresearch. "Though parents want to make sure kids are fully prepared for school, they will be comparing prices online and in stores before making any big purchases."
Nationally, 52 percent of consumers plan to do the bulk of their school shopping early next month, according to the Deloitte survey. Roughly 20 percent have already started hitting the stores.
Pennsylvanians say they will wait a bit longer to get the youngsters ready, with the largest percentage -- 45 percent -- expecting to do most of their shopping in late August.
