Amid summer vacation plans, parents are preparing for back-to-school (BTS) season. Total BTS and back-to-college spending is expected to surpass $62.7 billion, according to Deloitte’s 2022 back-to-school survey.

On Thursday, Rod Sides, Deloitte Global Insights leader, broke down the consultancy’s findings.

“Parents are looking to make sure they make the back-to-school season really work for them," Sides told Yahoo Finance Live in an interview (video above). "They’re dipping into savings. We’re seeing about an 8% growth in K-12, and about 10% [growth] in college, so parents are stretching beyond their means.”

Higher prices are not deterring consumers. Though 57% of parents are concerned about inflation, Deloitte quantifies that 37% are expected to spend more on BTS products.

Apparel is responsible for driving this growth as families return to normalcy from the pandemic.

“Apparel looks like the big winner. A lot of folks are looking to make sure the kids have new clothes … because they won’t be on camera as much. I think there is some catch-up in that particular category,” Sides said.

On the other hand, parents are buying fewer tech products compared to the previous two years. Deloitte observes an 8% decline in BTS tech spending this year – there was 37% growth in 2021.

Brick-and-mortar stores are making a comeback this BTS season.

“The convenience of shoes and clothes … really makes the store the right answer for a lot of parents,” Sides expressed.

Deloitte anticipates in-store shopping will account for 49% of BTS spending, which is up 6% from the preceding year. Retail spending is still strong in the digital age – the Commerce Department reported Friday that U.S. retail sales surged 1% in June 2022, which was a 130 basis point improvement from May 2022.

Sides also noted a trend towards sustainability.

“We saw parents’ desire for sustainable products really grow. About 50% in both the back-to-school and back-to-college categories said that was going to be important to them,” Sides explained.