As the new school year approaches, parents in New York City are grappling with soaring costs for luxury back-to-school items demanded by their children. Research conducted by CouponBirds, an online discounts platform, reveals that New York parents are spending an average of $1,348 per child on essentials, significantly higher than the national average of $774.
Nurka Lucevic, a mother of four from Queens, has spent approximately $2,500 on her children’s school needs, equating the expense to “a mortgage payment.” Her children, aged between 2 and 12, are influenced by trends observed on social media platforms like TikTok and YouTube, which amplify the desire for high-end brands such as Chanel, Louis Vuitton, and Lululemon. “Everything is much, much more expensive this year,” Lucevic shared, highlighting the relentless requests from her two older children for the latest luxury sneakers and accessories.
The trend is not confined to New York. A study by Nationwide, a retail banking service in the UK, indicates that 36% of parents attribute the increased demand for luxury items to viral social media “haul” videos. These clips often showcase extravagant purchases, with some titled “$10,000 back-to-school haul,” which can garner millions of views.
The study further reported that 56% of parents feel pressured to overspend to meet their children’s desires. The specific items at the top of the wish list include stylish clothing (43%), premium backpacks (34%), high-end water bottles (27%), and designer handbags (23%). Additionally, there is a growing demand for laptops, trendy phone accessories, and upscale makeup products.
In light of these escalating costs, Sue Hayward, a financial expert with Nationwide, advocates for budget-friendly shopping alternatives. She emphasizes the potential for savings by purchasing quality garments from second-hand retailers. “Cash-strapped parents can save by stocking up on basics like polo tops, jumpers, and stationery with supermarket deals,” Hayward advised.
She also recommends exploring platforms like Vinted and eBay for “nearly new” clothing items or participating in local community groups to find outgrown items at lower prices. This strategy not only helps reduce spending but also promotes sustainable practices in consumer habits.
As the school year begins, parents are faced with balancing their children’s desires for luxury brands with the realities of their budgets. With social media playing a significant role in shaping these expectations, families are navigating a marketplace that increasingly prioritizes high-end fashion for even the youngest students.
