TORONTO, Aug. 9, 2017 /CNW/ -- For some it may be the
most wonderful time of the year, but for the majority of Canadians
back-to-school can mean breaking the bank. With many items
being purchased, from clothing to technology, it's no surprise that
53 per cent of Canadian parents agree that back-to-school shopping
puts a financial strain on their families and many take
months to pay off the bills they rack up (39 per cent). In
fact, according to a recent survey by savings destination site
RetailMeNot.ca, Canadians plan to spend a whopping $883 on getting their family prepared for the
school this year - $325 more
than what they spent on holiday gifts last year!
Kids Rule
Demanding wish lists could be the culprit for the high cost of
back-to-school season, with the majority of Canadian parents (62
per cent) stating they care more about getting their kids what they
need rather than saving money. With half of Canadian kids asking
for the hottest products when it comes to tech, clothes and
accessories, it's no wonder 86 per cent of parents agree
back-to-school shopping is getting more and more expensive.
In fact, more than half of Canadian parents (56 per cent) spend
more than they planned.
When it comes to what kids really want this
back-to-school season, new clothes, shoes, school supplies and the
latest smartphone and laptop top the list. For those purchasing
wish list items, the average spend per item are:
Ranking
|
Wish list
item
|
Average
Spend
|
1
|
New
clothes
|
$204
|
2
|
New shoes
|
$97
|
3
|
School
supplies
|
$103
|
4
|
Smartphone
|
$255
|
5
|
Laptop
|
$582
|
"Canadians are spending more on back-to-school than ever before
– more than parents in the US and more than they did on gifts for
holidays – but this doesn't have to be the case," says Sara Skirboll, Shopping and Trends Expert for
RetailMeNot.ca. "Satisfy pricey wish lists and your desire
to stick to a budget by scanning for sales, coupons or promo codes
that can act as an easy way to stretch your budget further."
Cross Border Comparisons
Compared to our neighbours down south, Canadians really know how to
live it large, outspending US residents on new clothes and shoes
for their kids for back-to-school by $77 (US spend $153
and $71 on clothes and shoes,
respectively). Additionally, Americans planning to purchase
electronics will spend a mere $121.
The lower spending patterns could be due to American parents (46
per cent) waiting for tax-free weekends and sales to do their
shopping. Canadians may not be so savvy in comparison with 53 per
cent agreeing they do not look for ways to save during
back-to-school season.
Other Survey Findings Include:
- Costly Kids: 60 per cent of Canadian parents agree if
they let their child shop for their own back-to-school needs, they
will overspend;
- Doting Dad: 66 per cent of dads care more about
getting their kids what they need for back-to-school over saving
money compared to 58 per cent of moms;
- Blown Budgets: Nearly two thirds (64 per cent) of
Canadian parents set a budget for back-to-school but 56 per cent
admit to usually spending more than planned;
- Sticker Shock: More than one-third of parents (40 per
cent) don't realize how much they are spending on back-to-school
shopping until they get the credit card bill.
About the Canadian survey:
From July 14th to July 15th, 2017 an
online survey was conducted among 1,519 randomly selected Canadian
adults who are Angus Reid Forum panelists. The margin of
error—which measures sampling variability—is +/- 2.5%, 19 times out
of 20. The results have been statistically weighted according to
education, age, gender and region (and in Quebec, language) Census data to ensure a
sample representative of the entire adult population of
Canada. Discrepancies in or
between totals are due to rounding.
About the American survey:
The RetailMeNot Q2 PR 2017 Survey was conducted between
April 6th, 2017, and April 9th, 2017, among 1,023 nationally
representative Americans ages 18 and over, using an email
invitation and an online survey. Quotas are set to ensure reliable
and accurate representation of the entire U.S. population ages 18
and over. Results of any sample are subject to sampling variation.
The magnitude of the variation is measurable and is affected by the
number of interviews and the level of the percentages expressing
the results. In this particular study, the chances are 95 in 100
that a survey result does not vary, plus or minus, by more than 3.1
percentage points from the result that would be obtained if
interviews had been conducted with all persons in the universe
represented by the sample. The margin of error of any subgroups
will be slightly higher.
About RetailMeNot, Inc.
RetailMeNot, Inc. (https://www.retailmenot.com/corp/) is a leading
savings destination connecting consumers with retailers,
restaurants and brands, both online and in-store. The company
enables consumers across the globe to find hundreds of thousands of
digital offers to save money while they shop or dine out.
RetailMeNot, Inc. estimates that approximately $4.4
billion in retailer sales were attributable to consumer
transactions from paid digital offers in its marketplace in 2016,
more than $600 million of which were attributable to its
in-store solution. The RetailMeNot, Inc. portfolio of websites and
mobile applications includes RetailMeNot.com
in the United States; RetailMeNot.ca
in Canada;VoucherCodes.co.uk in the United
Kingdom; ma-reduc.com and Poulpeo.com in France; and
GiftCardZen.com and Deals2Buy.com in North America. As wholly
owned subsidiaries of Harland Clarke Holdings, RetailMeNot
and Valassis, a leader in intelligent media delivery, are
partnering to connect retailers and consumers through meaningful
digital, mobile and print promotions both online and in store.
About Valassis
Valassis is a leader in intelligent media delivery, providing
over 58,000 clients with innovative media solutions to influence
consumers wherever they plan, shop, buy and share. By integrating
online and offline data combined with powerful insights, Valassis
precisely targets its clients' most valuable shoppers, offering
unparalleled reach and scale. NCH Marketing Services, Inc. and
Clipper Magazine are Valassis subsidiaries, and RedPlum® is
its consumer brand. Its signature Have You Seen Me?® program
delivers hope to missing children and their families. As wholly
owned subsidiaries of Harland Clarke Holdings, Valassis
and RetailMeNot, a leading destination for digital
savings, are partnering to connect retailers and consumers through
meaningful digital, mobile and print promotions both online
and in store.
For interview requests or more information, please
contact:
Erin Banting
Citizen Relations
416 934 8422 office
416 414 8637 mobile
erin.banting@citizenrelations.com
SOURCE RetailMeNot, Inc.