Back-to-school costs expected to hit record high this year

COLUMBIA, Mo. (KMIZ)

It's that time of year when new backpacks are bought, school boxes are filled and pencils are sharpened, but this year, it could also burn a hole in people's wallets.

According to the National Retail Federation, families with elementary through high school students are expected to spend an average of $890 on back-to-school supplies. This will be a new record, driven by higher demand for electronics, such as laptops, tablets and calculators.

Local resident Allison Nelson was out shopping at Target on Friday to take advantage of tax-free weekend in Missouri, and said she's noticed the increase in school supply prices over the years.

"Prices have been steadily rising over the past nine years that we've had kids in school," Nelson said.

Target team leader Jordan Walker said there have been many people like Nelson visiting the store this weekend.

"We've definitely had a lot of customers in for tax-free weekend, taking advantage of our deals," Walker said.

In total, the NRF expects back-to-school spending to reach $41.5 billion this year.

"Now that I have my third kid coming up into elementary school, we definitely have to have a bigger budget," Nelson said.

Tanya Heath with Team COMO said her organization is preparing for an upcoming school supply drive. She said the high prices that shoppers are being faced with is negatively affecting local families.

"Unfortunately, school supplies are getting more expensive this year and they are affecting more families," Heath said. "Families who have other concerns, like healthcare and all sorts of challenges for their children."

Families with students heading to college are also expected to spend in record numbers, with the NRF expecting people to spend an average of $1,366 per person, compared to $1,199 last year. The federation said the amount has nearly doubled since 2019, with the biggest costs being computers, phones or dorm furnishings.

Total back-to-college spending is expected to be around $94 billion, up $20 billion from last year.

The Better Business Bureau recommends people shop smart and take advantage of sales and discounts.

Consignment stores like The Snob Shop Exchange in Jefferson City said they are seeing customers come in for back-to-school clothes shopping. Employee Claire Tabb said they started noticing back-to-school shoppers about two weeks ago.

"That's where a lot of the t-shirts, jeans, leggings (were bought), a lot of people came in with their parents, and had a lot of discount sales then, too," Tabb said.

Customer Lisa Ernst said she has noticed prices rising all across the board, which makes it harder to get the supplies she needs. She said stores like The Snob Shop Exchange are able to help her save money when out shopping with her daughter, Delainey.

A spokesperson for Walmart told ABC 17 in an effort to keep prices low, they are removing inflation on some traditional back-to-school supplies, such as Crayola Crayons, Pen + Gear Composition Notebooks and Sterilite Plastic Pencil Boxes.

Tax-free weekend in Missouri is happening through Sunday.