Rising confidence boosts spending on college essentials
Average spending per student has ticked up this year, with projections for the middle-income segment seeing the biggest gains—and tech driving the increased investment.
A rosier economic outlook
With pandemic-prompted anxiety waning, almost half of the parents we surveyed have more confidence in the economy.
An urge to splurge
Average overall spending is up 8% YoY to $1,459 per student. The middle-income segment’s average spending is projected to hit record levels as they plan to splurge on computers, hardware, and other college supplies.
Clicking to purchase
While online shopping was the only option for many parents last year, families are sticking with it: 35% of shopping is projected to occur online.
Social media shopping is elementary
Both college and K-12 parents use social media in similar ways, primarily to learn about products and read reviews at the beginning of the shopping journey. However, more K-12 parents rely on social media for their back-to-school shopping than parents of college-bound students.