AUSTIN, Texas, July 12, 2016 /PRNewswire/ -- All season long, families have spent big bucks to stay cool for the summer. As we near the beginning of back-to-school, it's time to start spending more wisely. A new survey released by savings destination RetailMeNot and Kelton Global revealed that 87% of parents say they have gone over budget when spending on any category. Avoid breaking the bank by getting more for your buck!
More than seven in ten (72%) Americans have put together a budget for themselves to avoid overspending. As a result, more than three in five (61%) parents are spending as much as they budgeted or even less.
"Consumers are becoming more mindful of their spending habits," says Sara Skirboll, resident shopping and trends expert for RetailMeNot. "July is the perfect time to stock up on must-haves like swimwear, summer apparel and even electronics, and get the best deals."
Can a new season mean a new you? More than four in five (84%) Americans plan on changing some aspect of their lives this fall. Whether updating their wardrobe, eating healthier or becoming more active, 96% of millennials (20-35) plan on making a lifestyle change as Fall approaches
Electronics, such as laptops and cameras, will also be marked down to the lowest prices of the season. Whether you're looking to switch up your look or upgrade your electronic devices before back-to-school season begins, July is the best time to score the perfect deal.
Optimizing savings means stacking deals with RetailMeNot as well as knowing the best times to buy. During the second week in July find huge savings on electronics and summer apparel. The third week is the best time to score more than 60% in savings for swimwear. Finally, the last week of July is the best time to purchase clothing and school supplies for back-to-school with an average savings of $43!
School may start back up in August, but three in ten (30%) parents plan to start back-to-school shopping by the end of July when the best deals occur. Parents plan to spend an average of $273 on their child's return to school this fall. That's $27 more than parents anticipated spending last year ($246), which could be due to end-of-summer savings.
Many parents will purchase new technology for their children this school year. Over one in four (26%) plan to buy their child a tablet, whereas more than one in five (21%) expect to purchase a laptop. While new tech is popular this back-to-school season, many classic school items like textbooks and scientific calculators are on parents' lists.
This RetailMeNot survey was conducted between June 10-16, 2016, among 1,007 nationally representative Americans ages 18+, using an e-mail invitation and an online survey. Quotas are set to ensure reliable and accurate representation of the entire U.S. population ages 18+. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About RetailMeNot, Inc.
RetailMeNot (http://www.retailmenot.com/corp/) is a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The company enables consumers across the globe to find hundreds of thousands of digital offers to save money while they shop or dine out. During the 12 months ended March 31, 2016, RetailMeNot, Inc. experienced over 700 million visits to its websites. It also averaged 19.2 million mobile unique visitors per month during the three months ended March 31, 2016. RetailMeNot, Inc. estimates that approximately $4.8 billion in retailer sales were attributable to consumer transactions from paid digital offers in its marketplace in 2015, more than $600 million of which were attributable to its in-store solution. The RetailMeNot, Inc. portfolio of websites and mobile applications includes RetailMeNot.com in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk in the United Kingdom; retailmenot.de in Germany; Actiepagina.nl in the Netherlands; ma-reduc.com and Poulpeo.com in France; RetailMeNot.es in Spain, RetailMeNot.it in Italy, RetailMeNot.pl in Poland and GiftCardZen.com and Deals2Buy.com in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit http://investor.retailmenot.com.