Upcoming Event
Free Newsletter
Back-to-school spending survey: Denver parents expect to cut back
Average spend on extracurricular activities pegged at $774
ColoradoBiz Staff //July 23, 2024//
Image courtesy of Shutterstock.
Image courtesy of Shutterstock.
Back-to-school spending survey: Denver parents expect to cut back
Average spend on extracurricular activities pegged at $774
ColoradoBiz Staff //July 23, 2024//
The Deloitte Denver 2024 Back-to-School Retail Survey released Tuesday found that local parents are tightening their wallets this back-to-school shopping season amid higher prices. Denver parents surveyed expect to spend slightly less than their estimated spend of $765 in 2023.
Key findings from the Denver survey:
- Denver parents report that they will spend an average of $742 per child this year, which is 27% higher than the national average. More than half of Denver parents plan to spend the same or less than they did last year: 44% expect to spend the same year-over-year, while 14% expect to spend less.
- While spending for Denver parents is up in areas such as clothing and accessories ($287 in 2024 compared to $220 in 2023) and school supplies ($188 in 2024 compared to $175 in 2023), spending on tech products is noticeably lower ($572 compared to $629 in 2023).
- Most (77%) Denver parents surveyed don’t feel guilty about sending their children to school with pre-owned items, but circular purchases are higher among lower-income parents.
- In addition, 9 out of 10 Denver parents plan to enroll their children in extracurricular activities and spend an average of $774 on fees and equipment, representing a further opportunity for local retailers.
- Overall, local parents value convenience and plan to spend most of their budget at mass merchants (33%) and online retailers (20%). In search of deals, they expect to shop across 4.4 retail formats on average.
- Despite school starting mid-August, Denver parents expect to spend 70% of their back-to-school budget by the end of July as the season continues to pull forward.
View Deloitte’s national Back-to-School report here.
