Fourth of July spending is now history, and consumers are already looking ahead to fall and the beginning of a new school year. NFL’s Back-to-School Spending Survey, conducted by Prosper Insights & Analytics, is just out and predicts that families may trim back a little this year after last year’s splurging.
The average family with children in grades K-12 plans to spend $630.36 on school needs this year. Last year it was $669, so the numbers are down somewhat. Nevertheless, total spending is expected to reach $24.9 billion for K-12 spending and a total of $68 billion for K-12 and college spending combined.
Looking at past history, it’s notable that families on average have spent 42% more on school items over the past 10 years. Undoubtedly, the use of electronics in the classroom has made a significant difference, but the replenishment of electronic devices may not be necessary each year, so parents are adopting a “wait and see” attitude.
Those consumers who plan to shop early cite avoidance of crowds, not wanting to miss out on popular items that sell fast, and promotions too good to pass up as reasons for this decision.
As a retailer, now is the time to make sure your inventory is stocked and accurate, your promotions are targeting the right consumers, and you’re prepared to take advantage of the increased use of mobile technology to insure a profitable season.
NCR’s Counterpoint has the tools that you need. CustomerConnect helps you identify customers who need to receive your advertising. CPMobile helps you sell both inside and outside your store, and Counterpoint has great inventory control features that will help you keep track of what’s selling and what’s not.
Don’t wait until the last minute—call us today for more information. Get ready now for a great Back-to-School season. Our number is 800/425-672-4806 or you can email us.