Class may not be in session yet, but back-to-school shopping is already in full swing!
School starts back up again throughout August and September, with many families beginning their shopping early. From pencils and laptops to shoes and clothes, back-to-school supplies run the gamut. Retailers must prepare for the influx of shoppers ahead.
Consistent with trends over the past few years, back-to-school shoppers are predicted to be price-conscious, browse both in-store and online, and start shopping earlier than ever.
Retailers and brands must meet consumer demands and anticipate their behavior to stay competitive. By understanding and responding to these trends, retailers can make the most of the back-to-school shopping season:
Understanding the Opportunity
Given the breadth of back-to-school shoppers, ranging from preschoolers to college students and their parents, this annual retail season presents retailers with an opportunity to capture a wide range of consumers. Not only is the audience sizable, but the revenue potential is significant with Sensormatic reporting that spending on school supplies is projected to exceed $81 billion in 2024 (+3.2% YoY)¹.
To meet increased consumer demand, retailers must ensure their inventory is well-stocked with popular back-to-school items. Analyzing performance from past back-to-school seasons and other high-demand periods, such as Cyber Week, can provide valuable insights to inform a successful merchandising strategy. By leveraging these insights, retailers can better anticipate consumer needs, optimize their inventory, and maximize back-to-school sales.
Start Early to Stay Ahead
In recent years, consumers have begun shopping earlier and earlier for seasonal moments and back-to-school 2024 is no different. NRF’s back-to-school report noted that 22% of people had already started their shopping for the ‘24/’25 school year in early June. They also reported that 68% of shoppers planned their back-to-school shopping around seasonal events like Prime Day, 4th of July and Labor Day.²
Brands should begin integrating back-to-school messaging across their organic and paid media as early as possible… as in right now. Where applicable, layer back-to-school interest audiences within campaigns to capitalize on the early interest. Being proactive and staying on top of seasonal trends is crucial for retails to capitalize on the increased purchase intent surrounding the back-to-school season.
Offer Competitive Deals
The impact of events like Amazon Prime Day and other summer sales has reshaped back-to-school shopping behavior, setting expectations for significant discounts among consumers. Many retailers are anticipated to roll out aggressive promotions to attract shoppers.
This back-to-school season, price considerations are crucial, with 80% of shoppers expecting higher costs for back-to-school items (Shopify)³. CConsumers are are more discerning and value-seeking than ever. Many are actually using their online cart to hold their desired products until a better sale price comes along, then finishing the transaction.
If your business is unable or uninterested in offering significant discounts, there are other ways to provide added value to consumers. Retailers can offer discounted, free, or expedited shipping, and other conveniences such as in-store pickup and buy now pay later. Appealing to customers’ desire for convenience and price sensitivity can help build loyalty and drive sales during this critical shopping season.
Bridge Online and In-Store Shopping
In the post-COVID market, there has been a mass return to in-store shopping, but customers have not abandoned their online transactions. Emarketer reported that an estimated 40% of back-to-school purchases will be made online.⁴ Many customers shop with an omnichannel approach, and retailers must respond in kind. This entails consistency in messaging and promotions both in-store and online with dedicated campaigns driving both site and store traffic.
Know Your Audience
Because of the vast range of the back-to-school demographic, brands must tailor their messaging to different cohorts and target them with precision. Children as young as preschoolers need back-to-school supplies, and to reach them, brands must target their parents. Aligning messaging and targeting with the interests of parents rather than the end customer will allow brands to better connect with the decision makers.
Older students have different needs for back-to-school shopping, requiring more technology and often updated wardrobes. Creative targeting and messaging can leverage these differences. College students have even more specific needs, from gameday outfits to collegiate gear. Understanding these varied requirements allows brands to develop targeted campaigns that resonate with each group, enhancing engagement and driving sales.
To capitalize on the back-to-school season, retailers must understand and cater to the diverse needs of their customers. By starting early, offering competitive deals, ensuring a seamless omnichannel experience, and tailoring messaging to specific demographics, brands can effectively capture consumer attention and drive significant sales.
Sources
- https://www.sensormatic.com/resources/ar/2024/b2s-2024-predictions-blog
- https://nrf.com/insights/holiday-and-seasonal-trends/back-to-school
- https://www.shopify.com/retail/back-to-school-shopping-4-ways-retailers-can-rule-this-busy-season
- https://content-na1.emarketer.com/data-drop-5-charts-on-2024-back-to-school-shopping
