The Impact of Economic Conditions on Back-to-School Shopping

Every month,  ScholarshipOwl conducts a survey to develop greater understanding about what Gen Z students care about. In July, we asked students about the impact of the current economic conditions on their plans for the back-to-school shopping season. Unfortunately, our results show that the overwhelming majority (82%) of respondents are concerned that they won’t have enough funds to afford back-to-school necessities. 

Who participated in the survey?

In July 2023, ScholarshipOwl surveyed over 10,500 high school and college students on the ScholarshipOwl scholarship platform to learn more about their back-to-school shopping plans. We were particularly interested in finding out if the current economic conditions were preventing them from purchasing everything they would need to begin the school year. A total of 10,548 students responded to the survey.

Among the respondents, 65% were female, 33% were male, and 1% identified themselves as other. Nearly half (42%) were Caucasian, 26% were Black, 18% were Hispanic/Latino, 7% were Asian/Pacific Islander and 6% identified as other.

Nearly one-third (30%) of the respondents were high school students, with the vast majority high school seniors; well over half (59%) were college undergraduate students, primarily college freshmen and college sophomores; 8% were graduate students and 3% identified themselves as adult/non-traditional students.

Survey questions

The first survey question was “It’s time for back-to-school shopping! Have economic conditions affected your ability to afford back-to-school necessities?” We learned that unfortunately, the overwhelming majority (82%) of all students surveyed responded “yes,” that the current economic conditions have adversely impacted their ability to purchase the things they need for the coming school year.

We then asked, “What would you like to buy for your back-to-school needs? Check all that apply.”

Most respondents selected several options from the list. Perhaps unsurprisingly, the vast majority of students (88%) indicated that they plan to purchase textbooks/materials for classes, with nearly as many (79%) stating that they will purchase school supplies, such as a backpack, pens/pencils, calculator, etc. A large percentage (70%) plan to purchase technology products, such as a new laptop, tablet, wireless earbuds, printer, game system, new phone, etc. Nearly one-third (31%) are looking forward to purchasing decor for their living space, such as bedding, bins/organizers, wall decor, etc. More than one-quarter (28%) plan to purchase fashion/clothing to start the new school year. Beauty products and health & fitness apparel and equipment were also popular choices among nearly one-quarter of the respondents (24% and 23%, respectively). 

For the final survey question, we asked students, “Select the products/brands that you’ll likely shop for as you prepare to go back to school. Check all that apply.” Most respondents selected several brands from the list. 

Technology brands

The technology brand with the greatest interest (62%) was Apple, followed by Dell (30%), Samsung (18%) and HP (16%). 

Health & fitness brands

The most popular health & fitness brand was Nike (35%), followed by Under Armour (14%), Lululemon (9%), Fabletics (8%), and CHAARG (1%).

Fashion brands

The most popular fashion brand was Five Below (31%), followed by SHEIN (22%), H&M (20%), Urban Outfitters (10%), ZARA (7%), Figs Scrubs (3%).

Living space / decor brands

The most popular living space/decor brand was IKEA (23%), followed by Dormify (12%)

Beauty brands

The most popular beauty brand was Ulta Beauty, selected by 14%, followed by Sephora (10%) and Fenty by Rihanna (5%). 

Key takeaways for Gen Z students

The survey results indicate that Gen Z students are looking forward to the traditional back-to-school shopping season, and are aware of brands that appeal to them. However, despite their interest in buying back-to-school necessities, students are concerned about their ability to afford the products they’ll need.

Brands can be the solution

The ScholarshipOwl for Business platform enables brands to authentically connect with Gen Z students through the creation and launch of scholarship campaigns. As this survey confirms, Gen Z is actively interested in buying products during the traditional back-to-school shopping season; however, the current economic conditions may impact the amount they are able to spend. 

Brands can help by launching scholarship campaigns on the ScholarshipOwl for Business platform. Through this platform, brands can create and launch scholarship campaigns, and promote them to the millions of students who apply for scholarships on the ScholarshipOwl platform. This benefits both students and brands, enabling businesses to build relationships with Gen Z in support of their marketing and communication goals.

To find out more about creating and launching a scholarship campaign, visit business.scholarshipowl.com.