The current situation:
Americans are projected to spend approximately $135 billion this year to get their kids ready to return to school and college, which is 22% more than last year. Back-to-school can be a make-or-break time of year and a critical lead-in to the holidays. Mass merchandisers, dollar stores, office supply stores, apparel companies and online-only retailers will all be competing for their share of the pie.
What consumers are saying:
Excluding Boomers, approximately 45% of consumers in this week’s Consumer Pulse say they plan on buying back-to-school supplies, and almost the same amount say they will purchase BTS apparel. Our Consumer Pulse report looks at how consumers will approach the all-important BTS season:
- 84% say they will shop at Walmart for BTS supplies.
- 77% say they will compare school supply prices to get the best deal.
- 46% say they will shop both online and in-store.
The Outlook:
According to the National Retail Federation, BTS spending is second only to the holiday season for families. Families will spend an estimated $890 for kids in grades K-12 and $1,367 for those going off to college. The biggest winners this year will be the brands that are on-trend, in stock, and – most likely – on sale when parents are ready to buy.
Do you want to take the Pulse of your customers? Our Insights team will partner with you to design a study that will help you better understand your customers and their problems, and how your brand can win at retail.
To get additional insight into what this means for brands and retailers, read the entire study.
