National Retail Federation recently released the results of its back-to-school and back-to-college surveys in an attempt to determine the patterns of retail spending for this school year. On their list of the top ten trends, some are surprising. Below is a brief list of the results of the surveys.
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Spending on back-to-college merchandising is twice as high as spending for younger students. As the post high school crowd has more money to spend, more attention should be spent on this group.
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Dads spend more money than moms on back-to-school purchases. Whether it’s because they shop in a hurry, have more confidence in the economy, or have a more difficult time saying “no” to kids, they spend more.
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The economy is still going to have an effect on back-to-school shopping. Store brands or generic merchandise is “in.”
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Shopping for back-to-school starts earlier this year than ever before, allowing parents more time to shop for deals.
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On-line shoppers will spend more than those who only shop in malls. Retailers must make sure that their website represents their overall brand as much as their stores represent it.
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Price isn’t everything. Customers may consider buying pricier clothing that will last longer to save on money in the long run.
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Although college freshmen usually spend more than older students, that will not be the case this year. The drop could be as much as 19%!
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College men will spend more on back-to-school merchandise than college women. This applies not only to electronics purchases (the expected), but to clothing, personal care, and dorm décor.
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Kids are spending through their parents. Even though they don’t spend much of their own money, they greatly influence what their parents buy.
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The sales expectations for back-to-school purchases may or may not apply to the holiday season. Back-to-school purchases are usually a necessity, but holiday purchasing can be more flexible.
Are you ready for the challenge? CounterPoint POS Software can help you better manage your back-to-school sales. Whether it’s on-line or in-store merchandising, we can help you improve your sales. Call us at 425-672-4806 or email us for more information.