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Back-to-school shopping season is here.
Whether your little kids are heading off to school for the first time, or your big kids are leaving for university or college, back-to-school shopping is a rite of passage for many families. According to a recent survey by the Retail Council of Canada (RCC), approximately 66% of Canadians surveyed make a dedicated trip to buy back-to-school essentials. But the cost of clothing, school supplies, books and electronics usually adds up fast.
And this year, with rising interest rates and inflationary pressures, parents are feeling the pinch. The recent 2023 Deloitte Back-to-School Survey reports that the price of school supplies has increased almost 24% in two years, and the average spend per child is expected to decrease 10% to $597.
Most parents in search of lower prices will head to big-box stores, followed by clothing retailers and department stores. Shoppers report they’re focusing on the essentials, such as school supplies (61% of purchases), though clothes is a close second accounting for over 54% of spending, according to the RCC.
Savvy shoppers know they need to start with a list of needs versus wants (does your kid really need all new binders or those $200 sneakers) and then a budget. Still, it’s easy to overspend when it comes to back-to-school shopping.
So in the spirit of stretching your dollar as far as possible without sacrificing essentials, we’ve rounded up four ways to save as kids of all ages return to school.
1. Make the Most of Your Credit Card
While shopping with your credit card won’t help you land deals, it can make the most of your spending especially if you use a cash back card that gives you rewards on everyday spending, such as grocery and gas purchases. Almost half of Canadians purchase their back-to-school products in the regular grocery aisles, according to the RCC survey.
While earning perks is a huge plus, you’ll want to still stick to a budget and pay off your balance in full at the end of the month. With interest rates averaging 20%, it’s easy to lose any savings by carrying over a hefty balance.
If your kid is headed off to post-secondary school this fall, now’s a good time to make sure he or she has their own credit card. Not only can a student credit card help young people build their credit, but many offer rewards programs, such as cash back on essentials such as groceries, gift cards, free movie tickets and even travel points. But how do you choose? With so many credit cards on the market, Forbes Advisor Canada did the heavy lifting for you with its roundup of Best Student Credit Cards in Canada.
Keep in mind that youth typically need to be 18 or 19 years old to get a credit card, though parents may be able to add their teens as authorized users. Another option is a prepaid credit card that you load with funds and then use like a conventional credit card. The downside is that it won’t help your teen build credit, and doesn’t offer much in the way of perks.
2. Back-to-School Deals and Student Discounts
Do a quick Google search for “back to school shopping Canada” and you’ll get long list of big-box retailers that are currently offering back-to-school sales. You’ll find everything from school supplies, backpacks, lunch boxes and even dorm furniture.
But when’s the “best” time to shop for back-to-school deals? Well, retailers start their back-to-school campaigns in mid-July. And while 11% of parents start their back-to-school shopping at least four weeks out, approximately the same number wait to shop until now, notes the RCC survey. Meanwhile, approximately 16% will start their shopping a week or less before school starts.
Some parents prefer shopping early for the most and best selection and stretching their spending (and paycheques) over several weeks. Others wait until the last minute when prices for some items, like backpacks or lunch boxes, drop even more. (Kind of like buying candy the day after Halloween.)
On the other hand, if you are one of those shoppers who can wait until school starts, Black Friday and Cyber Monday sales that are traditionally in November start earlier each year, and you can score some excellent deals.
There’s another benefit to waiting until your kid is actually in school to go shopping: Student discounts, which often require a student card as proof of eligibility. Some discounts are only for post-secondary students but others apply to high school students too. Check to see if any of the retailers you or your kid shop at frequently has a special savings day. For example, Bulk Barn offers 15% off on Wednesdays (and what student doesn’t need snacks?).
Another option is the Student Price Card, or SPC, that gives your kid access to over 450 discounts of up to 25% off for $12 per year. Similarly with a Student Beans Card, another popular student discount program, your kid can access discounts in-store, online on the app. For example, students with a Student Beans or SPC membership get 20% off at H&M.
3. Comparison Shop Between Online and In-Store
While the majority of families (81%) are opting to shop in-person at a brick-and-mortar store instead of online, according to the RCC survey, some stores, such as Staples, offer exclusive “online” deals. Or, if you’re shopping for books, online retailers such as Chapters Indigo often feature significant savings when shopping from home, plus free delivery if you spend more than $35. Some stores, such as Best Buy or Staples, even offer a price match guarantee to honour a competitor’s price for the same items.
Price comparison websites, such as Price Grabber and ShopBot, make checking for the best prices almost effortless. You might not purchase all your items online, but it’s worth checking if there are any deals before your load up the family minivan and head to the mall.
4. Buy Secondhand
If you’ve ever seen the parking lots of second-hand department stores such as Value Village or Talize, you’ll know that thrifting has shed its stigma and buying used is now a trend embraced by shoppers of all ages.
And for good reason: Not only can you save significant money when shopping secondhand, but “fast fashion” (or cheap trendy clothing produced by mass market retailers) is losing its sheen due to the polluting and environmental impacts of the production process and how quickly these clothes end up in landfills.
According to online marketplace ThredUp, the U.S. secondhand market is expected to reach $70 billion USD by 2027 and over half of consumers surveyed have shopped secondhand. Closer to home, Canada is home to almost 1,200 used merchandise stores, with the greatest concentrations in Ontario, Quebec and B.C, according to Statista.
Before shelling out money for clothes, shoes or backpacks, it pays to check out your local secondhand, vintage or consignment store. If you prefer shopping online, retailers such as Poshmark and Depop make buying that one-of-a-kind first-day-of-school outfit easy.
If you’re in the market for electronics, such as a laptop, tablet or phone, many retailers and suppliers offer refurbished items for significant savings. Check that the items are certified and backed by a warranty.
The Bottom Line
The transition from the hazy lazy days of summer to the structure of classroom learning can be tough, but with the right planning, back-to-school shopping doesn’t have to be.
