Thursday, August 4, 2011

Back-to-School Shoppers Spending 40% More Online

Even though the economy is still impacting spending, the typical online, back-to-school shopper will spend an average of 40% more than the in-store shopper, according to the National Retail Federation's 'Back-to-School Trends 2011 Survey conducted with BIGResearch.

That's an average of $850 versus the in-store $603 spend, and a total projected spend of $68.8 billion, for grades K-12 and college combined.

Back-to-School Trends

  • 40% more spent online is a stark reminder that online retailers need to optimize and maximize all available shopping channels
  • Today's back-to-school shopper is seeking more value, quality and service; not just the lowest price
  • 69% of shoppers are comparison shopping for bargains online, according to a Pricegrabber survey; good news for retailers looking to increase exposure
  • 90% of shoppers consider prices and discounts a top priority in choosing a retailer for school supplies in an Accenture survey

Retailer Lessons

  • Value vs Price Consumers are extremely focused on value versus price alone, so retailers take this opportunity to offer value-centric promotions & sales
  • Promote Often 50% of shoppers will be shopping more often to take advantage of back-to-school sales and about one-third will be shopping one to two weeks before school starts
  • Beyond the Basics While Back-to-School shopping includes school supplies, apparel, shoes and electronics, college students and their parents will be shopping for dorm room or apartment related furniture and accessories, food, personal care products and gift cards (see Total Back-to-College Spending 2011 below)

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