The only two sure things in life, according to Benjamin Franklin, are death and taxes. We might add a third—a lengthy list of new supplies your school-age child needs to purchase before every school year.
While some specific items, like binders and notebooks, are commonly purchased in the first days of school, many other things are bought in advance. Retailers are already offering big back-to-school sales. Now is great timing to get a jump on some of those school-year necessities.
What Back-to-School Shoppers Want in 2021
We conducted a back-to-school shopping survey of 1,100+ US parents of school-age children to ask them about their shopping plans for this year.
Our data found that 30% of parents replace back-to-school items, like electronics and bags, every year. With the high prices of some of those items, it’s no wonder that budget was the number one source of conflict for parents shopping for back-to-school items with their child.
If you’re replacing the same items year after year, then product protection is a great way to save money. By cutting down your yearly replacement costs, those savings can go from your back-to-school budget towards another, maybe more fun, option. Half of parents said they’d rather spend their back-to-school budget on something else—the top choice being a vacation.
Top Items for Extended Warranty Coverage
To extend the product lifespan on your purchases this year, look for added coverage options. Read the plan details to see what your extended warranty covers. A comprehensive plan can mean big savings, especially in certain categories where items are replaced and damaged frequently.
Here are the top 5 items that you should make sure to get warranties on this school year:
Not surprisingly, electronics topped the list for most frequently damaged or lost item. Phones were the first item in electronics, with 52% of parents reporting that their child has cracked their phone or tablet screen, and 40% indicating that their child has broken or misplaced their phone.
Graphing and complex function calculators required for advanced math classes can cost a pretty penny. Making sure that the manufactured components continue to function as intended is critical.
Not to mention that these high-tech calculators are often tossed in a bag or easy to drop between classes. If your child is going to continue to use the same calculator years in a row, you want to make sure that it will have the protection to last longer than the limited warranty.
Backpacks and school bags can take a heavy beating. With the number of things students haul from class to home, a quality school bag that won’t hurt backs and shoulders is important. But stitching and cloth corners can pull and fray. Large textbooks and binders put strain on the straps. Keeping that bag to last for multiple years requires extended coverage.
When your child is biking to school, a high-quality, safe bike can be an investment. Daily use can put a strain on the parts. You want to make sure your bike lasts a long time and stays a safe transport option.
Coverage through an extended warranty provider can help you get more value out of the product life. Added protection can extend manufacturer warranty and make sure that any stress on or damage to the moving parts of the bike are covered.
If you’re furnishing a college dorm room or setting up an at-home study space, back-to-school purchases can go beyond your typical supplies. One in five parents said that their child has accidentally damaged a piece of furniture. And nearly the same number of parents reported that they also had a history of damaging a piece of furniture in either high school or college.
Get More Value with Extended Warranties
Even with great deals, back-to-school shopping can come with a high cost. You can get a longer lifespan out of your products by adding coverage options that keep them going for multiple years. And with fewer annual purchases, you can put your back-to-school budget savings towards something else—maybe even that dream vacation.