Canadians spending more on back-to-school shopping
By Al Beeber - Lethbridge Herald on September 3, 2024.
LETHBRIDGE HERALDabeeber@lethbridgeherald.com Canadians are expected to spend more on back-to-school shopping this year.And while the Canadian Taxpayers Federation says the absence of a provincial sales tax in Alberta will save parents during their back-to-school shopping trips, that amounts to $50 compared to other provinces.
“The federal carbon tax and inflation are driving up prices, but it’s more affordable in Alberta because we don’t pay a provincial sales tax,” says Lethbridge-based Alberta director of the CTF Kris Sims.
According to Sims, parents will spend about $790 per student on back-to-school supplies this year.
And even if they only spend half that much, they’re still saving roughly $19.6 million, says the CTF because they aren’t paying an additional seven per cent on things such as clothing, shoes, backpacks, notebooks, laptops and other needed items.
“The provincial sales tax we don’t pay on school tech is really noticeable, since we are saving about $25 on a laptop,” according to Sims.
Website NerdWallet Canada’s figures suggest that the average amount Canadian parents will spend this year is slightly less than the CTF’s figures. Its new survey shows the average will be $743 which is up from $524 in 2023. NerdWallet says 23 per cent of parents are buying fewer items because of inflation.
NerdWallet says about 92 per cent of Canadian parents with kids in school from K-12 will do back—to-school shopping this year. Of those 47 per cent expect to spend $500 or more on purchases.
It says price-matching policies can come in handy for shoppers with some retailers being so eager to win business they may not only match a competitor’s price but offer to beat it.
The Retail Council of Canada says a total of 34 per cent of Canadians will do back-to-school shopping with 85.7 per cent spending the same or more than last year. Of those, 29.4 per cent expect to increase their budget.
The council says 71.6 per cent of Canadians prefer in-store shopping. Of shoppers, 35.4 per cent prefer to buy known brands with the belief it adds significance to their shopping while 36.3 per cent don’t think known brands are important. Just over 28 per cent feel prioritize finding the best value. 3
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