Back to school shopping is still largely done in stores because of the bonding experience school shopping creates between parent and child. Yet, many retailers are not capitalizing on this idea. For winter holidays, for example, many retailers host gift wrapping events, happy hour shopping, and pop-up markets.
back to school
Back to school shopping is the second biggest spending occasion, after the winter holidays. Each year, back to school and back to college shoppers spend roughly $80 billion.
Corri Neckritz started selling apparel out of her home in 2007 after experiencing frustration with the limited selections while shopping for her own kids. Flash forward to 2018 and she is the owner of Groove, a one-stop-shop for apparel, gifts, novelties, and more for babies, kids, teens, and adults.
As national uproar spreads around teacher pay and educational funding, questions are also being raised around whether schools are increasingly underfunded for classroom supplies. Class supply lists continue to grow and are becoming more costly for families nationwide.
Back to school sales are expected to hit $29.5 billion this year. The total climbs to $83.6 billion when combined with back to college shopping.
The National Retail Federation announced on July 13th that back to college spending is to reach an all-time high this year, while back to school spending is expected to see its second-highest spending level on record.
It’s almost summer, but back to school will be here before you know it. Over the past few years, timelines for back to school shopping have continued to spread.
Back-to-school shopping can be a lucrative selling period for merchants, especially if you plan ahead, explore new channels, and execute with “automagic” technology.
Retailers have one job: get consumers what they need, when they need it. Sounds simple, right? In reality, retailers have to satisfy consumer demands while simultaneously keeping costs down and growing profits.
Back-to-school shopping is much different from what it was even a few years ago. Shoppers now have real-time dynamic information in hand, and are making shopping decisions faster. Many retailers are trying to keep up with the frenetic pace of today’s shopper, and struggling with how to execute effective promotional and pricing strategies across the myriad channels consumers use.