Post by Koby Oppenheim, Youth and Education Research Group
A nickel can still go a long way it turns out. Back-to-school sales are promoting batches of pencils, highlighters, folders and notebooks...all for, well, pennies. Retailers are making offers they hope parents can't refuse --- and for good reason: they must sense the new frugality that's in the air.
The economic crunch is bringing back brown bagged lunches and even putting a crimp in the morning coffee routine. And so, when it comes to equipping Johnny for the new school year, the findings of a new GreatSchools and Harris Interactive report - The Economy's Impact on Back to School - confirm that the cost-savings continue.
About three in five parents (57%) say they plan to reuse portions of last year's school supplies. And potentially troubling for retailers, a quarter of parents (26%) are delaying buying school supplies until after the first day of school so that they only get what's really needed - which could translate into them not buying some supplies at all.
Interestingly, when it comes to reusing last year's supplies, higher income parents are just as likely to say they will do so as lower income parents...another sign of the new frugality? Weigh in and let us know what you think and how you're prepping YOUR kids for back-to-school.