September 6, 2018
With Labor Day just past, back-to-school shopping is now in full swing as parents rush to get the last details pulled together before the school year starts. (And for those of you everything at the last minute: We’re here for you, too, procrastinators.)
To help retailers make sense of this chaotic shopping season, we’ve just published the results of our Back-to-School Shopping Study. In the study you’ll find valuable insights into consumer shopping and buying preferences. Keep reading here to learn some of the highlights.
Several standout statistics from the report show that:
Everyone has been working very hard on their online and mobile sites and there is tremendous commerce happening in those valuable channels. But don’t forget about your traditional retail channel! For back-to-school, the store is still where it’s at. And while the percentages are likely to shift a bit more next year, remember these stats and plan accordingly when planning for the 2019 season.
Since these shoppers tend to buy in person, how do you capture the attention of the store-centric shopper while also thinking beyond the short back-to-school season? In addition to traditional coupons, discounts and incentives, the study shows that there are other effective methods to encourage this group of shoppers to purchase with your brand.
Consider the following statistics:
While discounts and coupons get people into your stores, personalized offers and product recommendations will help you build a relationship with these important buyers. Those tactics also play an important role with margin-boosting methods such as encouraging add-on sales, raising average order size and facilitating shoppers to ‘complete the look.’
This study provides another reminder that the true winner in these heavy shopping seasons are those retail stores who capitalize on the omnichannel experience. And for many, this should be an area of focus over the next 10 months, so you are ready to dominate with this powerful strategy for the next back-to-school season.
Can you integrate the buyer’s in-store purchase information with their digital information? If the answer is no, then this should be your centerpiece 2019 company development initiative.
Knitting together physical and digital information for every buyer will allow you to build sustainable, loyal relationships. And most importantly, you’ll be able to provide personalization and recommendation offers that cross the entire customer journey. Your buyers are open to these types of messages, so you need to step up and make them happen.
The timing of this Monetate study is particularly valuable because it gives you a true preview of what to expect for the most important end-of-year season. How can you take these back-to-school stats and allow them to quickly inform your holiday strategy?
Holiday prep time is a very short window, but making the time to implement just one or two of these suggestions could provide you with vital boosts for your 2018 holiday results. And, crazy as it may seem, now is the time to let your 2018 back-to-school results and the findings from this report inform your plans for the 2019 season.
Click here to download the full report: Back-To-School Shopping Study: the Where, When and What Driving Consumer Decision Making