Back-to-school shopping is a significant event in the retail industry, generating billions of dollars in sales each year. Back-to-school spending is second only to the holiday season in annual retail sales in the United States.
Back-to-school shopping encompasses both direct and indirect expenditures, offering diverse marketing opportunities. Direct expenditures, such as school supplies and textbooks, are essential items with a clear demand. Retailers can capitalize on this by offering early bird specials, creating loss leaders, implementing price freezes, and providing bulk purchasing options to attract budget-conscious shoppers. Emphasizing quality and longevity and offering easy product comparisons can further guide decision-making.
On the other hand, indirect expenditures, like extracurricular equipment or home study solutions, cater to a broader range of needs and interests. Marketing strategies here should showcase the value of these products in enhancing the overall student experience. Promoting items related to extracurricular activities, health and wellness, home learning environments, digital subscriptions, personal growth, and meal planning solutions can entice students and parents to consider these additional purchases, thereby expanding the back-to-school market beyond just the essentials.
Back-To-School Statistics
According to those surveyed, back-to-school spending for K-12 students will likely remain flat, estimated to reach a collective $31.3 billion, or approximately $586 per student.
Surveyed parents plan to decrease their spending on technology products by 11% year-over-year while increasing spend on other categories like personal hygiene and educational furniture by 22%. Spending on clothing and school supplies remains unchanged.
Shoppers surveyed prioritize retailers offering value and convenience, with mass merchants (77%) and online retailers (65%) being the top destinations. In search of deals, parents plan to shop across 4.7 retail formats on average, up from 3.9 in 2023 and may sacrifice loyalty to stay within budget.
Despite financial concerns, 85% of surveyed parents would splurge on their child’s must-have back-to-school products, and 50% would shop for themselves.
In addition to spending on back-to-school products, 86% of surveyed parents enrolled their children in extracurricular activities and plan to spend $582, including fees and equipment.
Read Deloitte’s Research on 2024 Back-To-School Spending
Back-To-School Consumer Trends (NRF)
With inflation high and the economy struggling, retailers must adapt their back-to-school marketing strategies to meet the needs of budget-conscious consumers. Back-to-school spending is a significant opportunity for retailers who can effectively cater to different age groups and address both required and indirect expenditures.
Read NRF’s Research on 2024 Back-To-School Spending
Elementary, Middle, and High School Students Back-To-School Spending
As elementary, middle, and high school students return to school, parents focus on purchasing essential, long-lasting products that offer value for money amidst anticipated inflation. With families planning to spend an average of $890 on school items for these age groups, retailers can appeal to their needs by offering bundle deals that combine necessary items at a discounted price. Additionally, emphasizing versatility and showcasing products that can be used across multiple subjects or activities will resonate with budget-conscious shoppers.
Promoting organization tools like planners, calendars, and storage solutions can further assist students in staying on top of their schoolwork. As technology plays a significant role in education, offering affordable tech options such as basic tablets or laptops for digital learning is crucial. Lastly, given that clothing remains the top spending priority for back-to-school shoppers, highlighting dress code-compliant clothing and accessories can attract a significant portion of this market.
College Student Back-To-School Spending
As college students prepare for a new academic year, retailers can cater to their needs by stressing independence and marketing products that facilitate their independent transition. With an average spending of $1,366 anticipated for college or university items, promoting space-saving and multi-functional items for dorm rooms can be highly appealing.
Emphasizing connectivity through deals on smartphones, laptops, and other essential tech devices is also crucial, acknowledging the growing reliance on technology in education.
Busy college schedules necessitate convenience, making time-saving products particularly attractive. Addressing inflation concerns by showcasing budget-friendly alternatives to premium brands can also resonate with students. Lastly, promoting study aids that enhance learning and productivity can further capture this market segment.
Back-To-School Marketing Strategies
Let’s explore strategies for targeting and making your back-to-school marketing campaign successful.
Targeting Students
Leverage social media: Use TikTok, Instagram, and Snapchat to reach younger audiences. 77% of shoppers will use their smartphones for back-to-school shopping activities.
Offer student discounts: Provide special pricing or exclusive deals for students with valid ID.
Create interactive content: Develop quizzes, polls, or challenges related to back-to-school themes.
Collaborate with influencers: Partner with age-appropriate influencers to showcase products.
Host virtual events: Organize online workshops or Q&A sessions about school preparation.
Gamify the shopping experience: Implement loyalty programs or rewards for purchases.
Targeting Parents
Emphasize value and durability: Highlight products that offer long-term savings, as 82% of consumers are concerned about inflation’s impact.
Provide flexible payment options: Offer installment plans or buy-now-pay-later services to ease financial burdens.
Create curated lists: Develop grade-specific shopping lists to simplify the process.
Offer price matching: Guarantee competitive pricing to build trust and loyalty, especially important as consumers become more price-sensitive.
Provide expert advice: Share tips and guides on preparing children for the school year.
Implement loyalty programs: Reward repeat customers with points, discounts, or exclusive offers.
With nearly half of consumers expected to utilize online platforms for their back-to-school shopping, a seamless e-commerce experience is paramount. An optimized online presence can significantly enhance your brand’s visibility and sales.
Discount stores have emerged as many shoppers’ preferred shopping destinations, underlining the importance of competitive pricing and value propositions. Partnering with these retailers or emphasizing discounts within your offerings can attract budget-conscious shoppers. While online shopping is rising, traditional channels shouldn’t be overlooked.
Department and clothing stores continue to draw a significant portion of back-to-school shoppers, necessitating a strong brick-and-mortar presence. An effective strategy integrates online and offline experiences, catering to the diverse preferences of today’s consumers. An omnichannel approach ensures that customers can engage with your brand seamlessly across various touchpoints, optimizing their shopping journey and maximizing your sales potential.
Back-To-School Marketing Takeaways
Back-to-school spending is projected to reach $41.5 billion in 2023, a significant increase from previous years
Families with children in elementary through high school plan to spend an average of $890 on school items
College students and their families are expected to spend an average of $1,366 on college or university items
82% of consumers anticipate inflation will impact their back-to-school shopping behaviors
Clothing and accessories remain the top category for back-to-school shoppers, followed by electronics and school supplies
50% of back-to-school shoppers plan to start their shopping in July or earlier
Online shopping continues to be popular, with 49% of consumers planning to use this channel
Discount stores are the most favored shopping destination, followed by department stores and clothing stores
77% of shoppers will use their smartphones for back-to-school shopping activities
By tailoring these strategies to specific age groups and addressing both direct and indirect expenditures, retailers can create compelling marketing campaigns that resonate with budget-conscious consumers during challenging economic times. The key is to emphasize value, practicality, and long-term benefits while providing flexible options that make back-to-school shopping more manageable for families.
Download Snipp’s Back-To-School Marketing Guide
©2024 DK New Media, LLC, All rights reserved. | Disclosure
Originally Published on Martech Zone: Back-To-School Shopping in 2024: What Retailers And Online Stores Need To Know For A Successful Season