74% of parents say they overspent against their planned summer holiday budget , leaving them struggling with the back-to-school budget, according to research by AliExpress. Almost eight in ten say they are cutting back on at least one spending area to ensure they can afford essential back-to-school costs.

Parents say they are already cutting back on takeaways, eating out, clothes for themselves, days out, food shopping, and trips to save enough money for September costs.

To stretch their budgets further, consumers are actively swapping famous brands for unbranded or lesser-known alternatives with identical specifications to beat the September squeeze, while 40% compare prices across multiple online retailers before purchasing.

Finch Li, AliExpress UKs General Manager, said: added: "Parents shouldn't have to choose between quality and value when preparing their children for the new school year."