Parents in Los Angeles are preparing to send their children back to school, and a recent survey has revealed that they will be spending a significant amount on school supplies this year.
A survey conducted by Deloitte found that while parents in the U.S. will spend an average of $586 per child on back-to-school shopping, parents in L.A. will spend an average of $921 per child. Parents in L.A. are also expected spend an average of $648 on technology.
It was also revealed that clothing and school supplies will make up most of the back-to-school market spending. It also found that 85% of the parents surveyed “can be influenced by their children to splurge on must-have products and brands.”
“We expect back-to-school spending to be flat to down modestly when adjusted for inflation, mainly driven by middle-income families juggling financial priorities and ongoing inflation perceptions,” Stephen Rogers, managing director, Deloitte Insights Consumer Industry Center, Deloitte Services LP, said in a press release. “Retailers can expect headwinds to volume and loyalty as consumers seek to save money. However, wanting to please their kids, retailers will likely have opportunities to harness the indulgences parents are willing to make.”
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Kids in Los Angeles and Burbank will head back to school on Monday, Aug. 12. School in Beverly Hills starts Tuesday while Pasadena schools start on the 19th. Santa Monica schools will open Aug. 22 while Long Beach schools start Aug. 27th.
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