Why Denver parents are pinching pennies this back-to-school season

Higher prices have Denver parents pinching pennies this back-to-school season, according to a recent survey from consulting giant Deloitte.

Why it matters: Despite inflation cooling , Colorado consumers still feel the need to tighten their purse strings to find relief.

By the numbers: Local parents are expected to spend an average of $742 per child this year, about $23 less than what was estimated in 2023 — and 27% higher than the national average of $586.

• More than half of Denver parents plan to spend the same or less than last year .

Zoom in: 77% of Denver parents surveyed feel no guilt about sending their kids to class with hand-me-downs to save money, a clear indication that value is top of mind.

The intrigue: Local parents are spending about 30% more on clothing and supplies compared to last year, but about 9% less on tech products.

• Deloitte's study suggests it could be because many parents bought tech products during the pandemic and aren't shopping for replacements yet.

What's next: The first day of Denver Public Schools' 2024-25 school year is Aug. 19.

The big picture: Parents nationwide are "caught in a balancing act" trying to check off their children's school shopping lists and factor in the cost of living, per Deloitte's report.

• Back-to-school shopping in the U.S. is estimated to reach $31.3 billion this year, on par with last year's spending.