The back-to-school shopping season is now at its peak. Families are already getting kids ready to head back to classrooms around the country in the coming weeks. Spanning from July through September, it’s traditionally one of the mega retail stretches of the year. This is because students require supplies, clothes, and electronics for the new term.
Data from trusted sources estimates significant spending during back-to-school season. Retailers have the opportunity to promote relevant products and capture a share of the profits up for grabs.
Back-to-School Season: Significance for Retailers
According to the NRF’s annual survey data, the BTS season is huge for retailers. Their survey shows that spending on back-to-school supplies will still be going strong this year. The data finds that 34% of U.S. adults plan to shop during this period, with 22% already starting purchases in June. This demonstrates consumers’ eagerness to spend.
Retailers still have time to prepare for the event and make profits. The back-to-school shopping season is nowhere near over, as 42 percent of BTS shoppers are still expecting to receive their lists of essential items for the 24-25 school year by the end of July.
Additionally, 68% of shoppers seek out sales and promotions from retailers, up from 55% in 2019. By strategically offering deals tied to popular events, stores can attract these deal-conscious consumers. Overall, the sizable BTS shopping translates to significant profits for retailers.
Retailer Promotion Strategies for the Back-to-School Season
To attract as many customers as possible during the BTS season, retailers should focus on targeted promotions. Key strategies that retailers can adopt include:
- Student Discounts Offering students a 10-15% discount on select items is an effective strategy to attract new young customers. Stores may clearly promote the discount around the sales floor and near checkout. You can also reach out to students via social media ads. You can provide exclusive discount information on the store’s social accounts to attract even more customers. Digital price tags can sync discount percentages across stores and show targeted messages such as “Student Special”, which helps maximize the impact of this promotion.
- Member-exclusive Deals Loyalty program members who subscribe to emails or mobile alerts should receive a special 5-15% off promo code for the entire store. Retailers can make these valid during a designated Saturday and Sunday in August. Marketing this coveted deal weeks in advance will attract more signups. Thanking and rewarding repeat customers in this way also encourages greater spending during their dedicated shopping weekend. Digital price tags can instantly reflect the discounted prices throughout the store. This minimizes store downtime when replacing paper price tags.
- Bundle Sales Bundling the top three selling essentials – notebooks, pens, pencils - together at 5-10% below their individual prices will offer tremendous value and entice more basket sizes. Use eye-catching visuals both in-store and online to showcase the special bundles. Such deals are the most effortless way for parents to check multiple items off their supply lists. Stores can display customized product info on digital price tags, such as product ingredients, product tutorials, etc., to enhance in-store shopping experiences.
- Clear-out Sales At the end of the back-to-school season, apply 20-30% markdowns to the remaining inventory, like jackets and accessories. Feature a new “bundle deal of the day” through social promotions to fuel shopping excitement during the final week. Video ads can showcase products whilst thanking loyal customers. They invite them to enjoy one last savings event before winter items arrive. Digital price tags also help, as they can facilitate this end-of-season clearance by enabling swift and accurate price adjustments for markdowns.
Get Ready for the Back-to-School Season with Hanshow
Looking ahead, digital technologies may further assist retailers in capitalizing on shopping periods. Companies such as Hanshow have developed solutions to aid stores amid prevalent challenges. At Hanshow, we provide electronic shelf labels to promote unmatched efficiencies like remote price changes from anywhere. This digital price tag solution offers a distinct advantage during limited-time sales throughout seasons. For retailers seeking a competitive edge, our digital price tags and one-stop solar energy solution can deliver significant operational savings. Please browse our website to learn more about our retail-enhancing innovations.