Five Retail Trends Making the Grade for Back-to-School Shopping
Retailers are expecting record spending at the start of the 2019 school year given the nation’s growing economy. The National Retail Federation reports that total spending between K-12 and college shoppers is predicted to reach $80.7 billion. So, who is buying what?
- Gen Z is spending more of their own money on back-to-school shopping. Rather than leaving it to mom or dad, teens and pre-teens are making product decisions, mostly on clothing and accessories, and are willing to spend their own cash. Each teen will spend an average of $36.71 and each pre-teen $26.40.
- College students want to show their spirit! Spending on college-branded items has increased 17% year over year. College goers will spend an average of $66.22 each on collegiate gear. However, the college shoppers will spend the most on electronics, followed by clothing and accessories, dorm and apartment furnishings and food items.
- Fundamentals matter. Deloitte’s 2019 back-to-school survey showed that (regardless of shopping age) consumers are crystal clear on their top three purchase motivations: 1) price 2) product and 3) convenience. Most start shopping four to six weeks before school starts, but they are willing to wait for the highest discount.
- Brick-and-mortar stores are still winning. Among back-to-school shoppers, 88% plan to visit brick-and-mortar mass-market retailers. Rounding out the other top four retailers are online, dollar stores, specialty retailers and off-price.
- Going back to school also means giving back. Thirty-one percent of consumers plan to donate school supplies and other needed items while they are doing their own back-to-school shopping — in fact, around $51 per family.