Analysts say NJ parents shouldn’t wait for school supply tax holiday to purchase items
New Jersey officials announced on Wednesday a sales tax holiday on school supplies from Aug. 27 through Sept. 5.
But some say that parents shouldn’t wait that long to purchase school supplies for their children for the next school year.
“I normally start shopping now for them, so I can get ahead of the game,” says Stephanie Lucci.
She says that the sales tax holiday just isn’t worth it for her to wait.
“For me, I don’t want to be with the crowds. I’m all about getting it when it's available,” she says.
Analyst Carl Gould with the business management company 7-Stage Advisors says Lucci’s plan is smart.
“The whole premise on that is that what you need will be available. And that promise has been long gone for a year,” Gould says.
News 12 previously spoke with Gould about supply chain issues affecting back-to-school shopping. He says that things are better this year but warns parents that if they wait until late August, there may not be much left.
“The downside risk of my kid not having what he needs for school is too high and then I’ll be overspending to try and get things once the school year started,” Gould says. “It's a great idea - but move it up now start it now and bring it right through Sept. 5.”
But there are plenty of parents who will risk the wait. Lisbeth Silvario had problems finding items last year but says even small savings will help.
“Everything is expensive now. Six cents might not sound like a lot, but if you put it together, it adds up,” Silvario says.
No matter how one plans to shop, Gould says New Jersey residents have learned to get creative over the last two years.
“In the secondary market, it’s all the same things. So, when I say, lightly loved or lightly used that was somebody who bought five binders last year and only needed three, so they a have two left over and aren’t using them anymore,” Gould says.
Analysts and shoppers also point to store sales, many offering more savings than the sales tax. Stores like Target offer more incentives if one uses the store’s credit card or signs up for coupons.