It’s that time of year again, vacations are coming to a close and soon school buses will be rolling through neighborhoods. The back to school buying period is here and even though the economy continues to be sluggish, a new research report shows school supply spending is set to rise. In fact, back to school is now the second largest consumer spending event for retailers behind the winter holidays.
• The average household with children will spend nearly $690 on back to school supplies, up 14% from last year
• Nearly half of back to school shoppers will start shopping three weeks to a month prior to school starting
• Almost a quarter will start 2 weeks before and 3 percent will wait until after school starts
• Men are expected to spend more on back to school supplies than women. On average, men are predicted to spend nearly $740, that’s 15% more than women. Women are more likely to shop at discount stores while men are more likely to shop at department stores
• Back to school shopping for those entering college is estimated to hit nearly $930 per college freshman
What Does This Mean To You?
Even if you are not necessarily a traditional provider of school supplies, there is money to be made from the back to school season. Back to school merchandise can range from pencils & pens to electronics to furniture. Back to school shopping can also be a great way to build your database.
Eight in 10 back to school shoppers say the economy is affecting their purchase. Things like loyalty programs, permission based SMS campaigns and social media drives can help you get a database built and extend your customer base. Tomorrow, we’ll look at where back to school consumers are shopping and what they are buying. For more information on reaching families and getting more results during the back to school season, please contact:
Source: Shop.org, National Retail Federation; Biginsight.com