Faced with runaway inflation, households are cutting certain expenses to cover their basic needs, particularly energy and food. This year, back-to-school expenses must be sacrificed in part.
According to a CSA Research survey for Cofidis*, 68% of parents plan to restrict their purchases of back-to-school supplies and clothing. Nearly a quarter of them even say they have to restrict themselves “a lot.”
37% of the French want to reduce the budget allocated to supplies
57% of respondents intend to reduce clothing expenses first, followed by extracurricular expenses (39%) which include sports and leisure activities. Nearly 4 out of 10 French people (37%) also plan to reduce their budget for the purchase of school supplies, while 13% want to reduce their budget for canteen registrations. Finally, 11% of parents want to reduce their spending on books and textbooks.
For Mathieu Escarpit, marketing director of Cofidis France, the results of the barometer “are uplifting”. “They illustrate the tense economic context and the concerns linked to the international situation,” he explains.
And to conclude: “The first results dedicated to the budget for the start of the 2022 school year confirm that inflation affects all school expenses. We see it particularly here with the drop in spending items ranging from extracurricular activities to shopping of useful. Buying power from the French is a real concern and the results of the next barometer that we will soon reveal highlight it in particular”.
*Self-administered online questionnaire from July 4 to 11, 2022 with a nationally representative sample of 1,007 French people aged 18 and over. Representativeness is ensured by the quota method according to the criteria of sex, age, profession, region and agglomeration category.
Source: BFM TV
