Philly back-to-school spending dips from last year
Why it matters: Many Philly parents surveyed say their financial situations haven't improved or have gotten worse since last year.
Driving the news: Philly parents are expected to spend on average about $725 per child for back-to-school supplies this year — about 5% less than 2024, per the survey.
Yes, but: That's $108 more than 2023's average, and this year's total is still 27% higher than the national average of $570.
The big picture: New U.S. tariffs on Chinese imports — including backpacks, pens, binders and shoes — kicked in earlier this year, rose sharply, then came back down to levels still historically high, Axios' Kelly Tyko reports.
The full impact hasn't hit store shelves yet — and back-to-school season may be the first test of how much price pressure shoppers will tolerate, according to a recent Wells Fargo Investment Institute report.
State of play: More parents say they're expecting to spend on tech products (34% compared to 31% last year), while those spending on clothes and accessories is slightly down and school supplies remained flat.
Nearly two-thirds of parents had planned to finish school shopping by the end of July, many of them taking advantage of sales on Prime Day, ahead of Philly's first day of classes on Aug. 25.
How it works: Deloitte surveyed more than 430 Philly parents with at least one school-aged child with a local margin of error of ± 5%.
Zoom in: Brick-and-mortar retailers are still most popular among Philly parents.
Those who shop online tend to spend about 1.5 times more than those who do not, per the survey.
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