Some relevant research and spending data that may be of interest: with the school year shaping up to be different than previous years, American Express’ new trend report, the Amex Trendex*, found that the way parents are preparing for back to school season is evolving to meet the changing demands.
In fact, 55% of parents are considering co-parenting with another family to help ease childcare responsibilities while they navigate working remotely.
The survey also looked at how parents are feeling and where they are prioritizing spending as they prepare for the upcoming school year, while balancing their own work requirements. Key findings include:
Technology Ranks High on Back to School Shopping Lists: While more than half (55%) of parents predict that their family will spend less money on back-to-school this year, parents are investing in ways to enhance their work from home and remote learning experiences.
In lieu of the typical back to school items, parents are planning to spend more on technology (30%) and remote workspace enhancements like office furniture (27%) and nearly half of parents (49%) plan to spend less on clothes and accessories.
Adapting for the School and Work Year Ahead: From school closures and cancelled extracurriculars to balancing remote working while taking care of their children, parents have been faced with a lot of obstacles over the past few months. After navigating months of challenges, 3/4 of parents (75%) feel prepared to adapt to any changes ahead.
Balancing responsibilities, such as work, children’s education and more will be a challenge. Survey respondents across generations and between moms and dads all expressed this feeling of upcoming challenge:
Millennials (86%) vs. GenXers (75%)
Moms (61%) vs. Dads (70%)
*This Morning Consult poll was conducted between July 21 and July 23, 2020 among a national sample of 2,000 general population travelers with an HHI $70K+ and defined as adults who traveled by air at least once in 2019. Results from the survey have a margin of error of plus or minus 2 percentage points.