Back to school: Romanian parents, worried about the rising cost of school supplies
With the school year set to start in less than a month, a Deloitte survey shows that Romanian parents are concerned about back-to-school shopping.
According to the survey, the parents’ many concern regarding back-to-school shopping is the rise in prices (57%), with more than half of them predicting a slowing down of the economy over the next six months (54%), and 33% saying their household financial situation has worsened over the last year.
More than a third (37%) expect to have to spend more on school supplies this year than they did a year ago on the same supplies.
At the same time, 64% of participants suspect retailers are artificially raising prices, thus taking advantage of the inflationary climate, and 77% say they will opt for another brand if their preferred products are too expensive or are out of stock. In fact, 63% of parents said they are expecting things to run out of stock quickly in the school shopping season due to supply chain difficulties.
"Rising prices, and therefore the cost of living, are the main concern for people in most countries around the world, including Europe. According to the latest standard Eurobarometer published by the European Commission, inflation is currently the biggest concern for people in 16 of the 25 participating countries," says Raluca Bâldea, Partner Tax Services, Deloitte Romania, and Retail and Consumer Goods Industry Leader.
"Romanians also put the difficulties related to price increases at the top of the list, as the annual inflation rate, which reached 15% this summer, will certainly have an impact on the expenses generated by the start of school."
The study also shows that the budget allocated by families to the purchase of school supplies will rise this year by 8%, the equivalent of USD 661 per child on average.
Regarding the preferred source for purchasing school supplies, the study highlights the gradual return of consumers to physical stores, which account for 49% of the options, up from 43% in 2021, while online retailers attract 35% of shoppers, versus 39% last year.
A growing trend this year is the purchase of environmentally friendly or sustainable products. Half of the parents choose such products, for which they are likely to spend 22% more than the average shopper, and 29% prefer to buy a used or refurbished product for their children.
Among those who do not opt for sustainable products, 50% say they are not affordable, and 20% say it’s difficult to identify which are genuinely sustainable.
The Deloitte back-to-school study is now in its 15th edition and is based on a survey of 1,200 parents with school-aged children.