Survey: 31% of back-to-school shoppers will take on debt

Quick Summary:

While that’s relatively flat to 2022, there are fewer shoppers this year opting for cheaper brands or using other money saving strategies, Bankrate found.

However, Rossman added that with credit card rates and balances at near-record highs, it’s important for consumers not to let their guard down, as “there’s a cumulative toll to all of the price increases we’ve seen the past few years.

Similarly, a Deloitte report on back-to-school spending found that spend per child would drop about $11 from last year, to $586.

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Article Details

Author / Journalist: Nate Delesline III

Category: EconomyBusiness

Markets: United States

Topics: Back-to-school Shoppers Year Supplies Found School Years Brands Cheaper Plan Bankrate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-22 @ 10:16:00 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 389 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 22215098

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