Despite growing consumer cautiousness, Canadian retailers just might get an A+ back-to-school season.
According to a new survey by digital offers site RetailMeNot.ca, more than half of Canadians aren’t setting back-to-school budgets. The survey of more than 3,000 Canadian parents found, on average, parents plan to spend more than $300 per child. Quebec parents are the biggest back-to-school spenders, dishing out an average of $397 per child, while 29% plan to spend over $500—the most in the country.
Last month, RetailMeNot released a survey that found 73% of Canadians are worried about the state of the economy, and nearly half are worried about not being able to afford all the things they need.
Given those results, “we figured that this back-to-school season might feel a little different [than previous years], but so far it really hasn’t,” said Kristen Larrea, communications manager at RetailMeNot.
“The general sentiment is parents will get what they need for their child to be successful and to feel good about themselves, so we’re not seeing the overall economic concerns translate into [cutting back on] back-to-school spending.”
That said, consumers are still looking for deals. The survey found 44% of parents shop at multiple retailers based on what stores offer the best prices and sales.
Moms are the savviest shoppers when it comes to back-to-school spending, with one in four (26%) finding savings using coupons and promo codes, compared to only 14% of dads.
In addition, 34% of Canadian parents feel pressure to purchase trendy items to help their kid fit in at school.
