College students hold a great deal of spending power. But, some are facing increasing financial pressures. Now that classes are back in session, a new report is out that details the changing spending behaviors of today’s college students.
• 44% of students say they are cutting back on school expenses because they already have key items
• 33% say they are spending more on discretionary items like concert tickets and fun items
• 30% are going to more on certain key items that they need
• 28% are going to cut costs on school expenses even if they need certain key items
• 25% are going to spend less on discretionary items
What Does This Mean To You?
Focus on promoting value. College students buy a wide variety of items – from pizza to laptops. To ensure that they keep your business top of mind, you need to stay relevant. While price is always a concern, promote the savings or the experience you items can deliver.
Yes, a new laptop can carve a large piece from a student’s budget – but how much time is wasted trying to limp through on an old machine that is on life support. Or worse, what happens if it gives up the ghost in the middle of something important.
For more discretionary items, focus on the fun and the shared experience that you can provide. Think of your own college experience, are your best memories based on typing term papers or the fun you had with friends. For more information on generating more from target audiences, please contact:
Source: eMarketer; Fluent