By Jonathan Baker Welcome to August, the month when back-to-school shopping is down to the wire. Families and retailers are educating themselves about, respectively, carefully purchasing and effectively selling items for the school season. What are the trending sentiments and attitudes in preparation for going back to school? Preparing and purchasing for school days Families visit their stores of choice—whether in person or online—and purchase classroom items for their kids. Retailers will showcase everything from basic school supplies to the coolest “gadgets of the moment.” Seems pretty routine, doesn’t it? There are major factors, however, that influence how retailers will sell that match what customers will purchase. Back-to-school shopping in 2024 may reach $39 billion in sales. Sound impressive? It is all perspective, because a report in e-Marketer, citing the National Retail Federation, noted that this figure is a drop when compared to the total of $41 million spent on back-to-school shopping in 2023. What accounts for this change? Image Credit: e-Marketer Shopping-for-school trends in the U.S. Deloitte recently conducted a nationwide survey among parents of children who ranged in age from kindergarten to twelfth grade. The overall sentiment among parents can be summed up in one word: caution. With concerns of cost-of-living expenses, many parents are very selective in how they will spend on their kids’ back-to-school items. Not surprisingly, most of them prioritize… Value above all Value for what their money can buy is the top consideration among parents. This connects to a growing practice of shopping early for school supplies and capitalizing on the best deals. (Indeed, over half the respondents completed their back-to-school shopping in July.) The importance of value extends to the mindfulness among many parents over costs and affordability associated with extracurricular activities. This leads to the question: How are retailers answering these demands? Loyalty programs The Deloitte report noted that retailers should offer the best customer experience, whether in-store, online—or both. The more streamlined an omnichannel experience a retailer can provide, the more at ease parents will feel in selecting needed school supplies. Additionally (and obviously), the earlier that retailers reach parents via digital channels, the greater the number of sales. (Early back-to-school shoppers reportedly spent 1.5x more than shoppers who waited.) Here is an interesting contrast: Despite many parents who’ve completed back-to-school shopping, there are those who will wait. And they will shop exclusively at physical stores. Going back to stores for going back to school From now until September, a significant number of families in the United States will visit brick-and-mortar stores to complete school-related purchases for their kids. Main Street Daily News—citing findings from the 2024 U.S. Back-to-School Consumer Sentiment Survey from Sensormatic Solutions—revealed that approximately 74 percent of parents will make in-store purchases. It is also important to note that 34 percent will spend much less than they have in previous years, which connects to the “caution sentiment” mentioned above. This year, caution has extended to the practice of sustainability. New school shopping priority for 2024: Sustainability According to Deloitte, four in 10 parents—across all income brackets—are likely to buy a used or refurbished school supply. Reinforcing this, Main Street Daily concludes that 83 percent of school season shoppers consider sustainability as another important factor when purchasing. (Interestingly, sustainability was a recommended marketing practice during last year’s winter holiday shopping season. Having carried over into the current back-to-school shopping season, it’s safe to say this will remain a selling point throughout the year from now on.) Conclusion Well, this lesson in back-to-school consumer trends is over. But one never stops learning. If you are a retailer and are looking to enhance your place in marketing, reach out to EGC. We will provide the solution to help your retail business earn great grades among customers. Closing question to consider and think about: Were you aware that school-related purchases are second only to gift shopping for the winter holidays as the largest spending season each year?
