Parents who start their back-to-school shopping earlier in the summer tend to spend more money overall, according to a recent survey by Deloitte.
Overall, the survey found that 62% of respondents plan to start shopping before August. Those shoppers spend an average of $544 on back-to-school purchases. By comparison, respondents who begin later, in August or September, spend an average of $455.
Many early shoppers (66%) said they plan to shop at different points throughout the summer to take advantage of deals, and 40% expect to find the best back-to-school deals early on in the season.
It’s worth noting that Deloitte didn’t delve into why late shoppers held off on back-to-school shopping. Since 37% said they belong to a household with income below $50,000, it may simply be a matter of economics for many, or a determination that lower prices are likely to be had later in the season.