In the ever-evolving landscape of back to school (BTS) shopping, gaining a comprehensive understanding of shopper behavior, preferences, and challenges is the key to optimizing your retail strategies for the 2023 season. As you gear up to cater to the diverse needs of BTS shoppers, let’s delve into the subtleties of their spending habits and uncover actionable insights to guide your approach. Explorer’s research conducted among 500+ US adults, during BTS 2023 shopping season, underpins these findings.
1. Tapping into Valuable Shopper Segments:
Tap into the spending readiness of dads and caregivers, who are allotting around $750-800 for their BTS shopping budget. Furthermore, nearly half of this group states that they are spending more to obtain the same items they bought in previous years. On the other hand, moms exhibit heightened price-conscious shopping behavior with a budget of $450-500, and a significant 2-in-3 consulting prices and seeking out price reductions.
2. Decoding Shopping Preferences, Behavior, and Timing:
Understanding shopping preferences and timing nuances is crucial by category. Explorer found out that the majority of shoppers are either still in process (52%) or haven’t even started (16%) BTS shopping yet, making it imperative for retailers and brands to focus on refining their shopping experience. Delving deeper, items like school supplies, backpacks, and lunchboxes often see shoppers planning a few weeks to a month or more in advance. Categories like lunchbox snacks display a trend of last-minute purchases, with 36% shopping in the days just before school starts. Sports equipment and furniture shopping display a balanced distribution of purchases both before and after school starts.
3. Identifying and Addressing Shopper Concerns Across Channels:
Ensure the shopping journey across online and in-store channels is seamless to address challenges faced on both platforms. While almost all shoppers (92%) make at least one in-store purchase, only 29% exclusively complete their shopping in-store. Online BTS shopping engages 65% of shoppers. Both online and in-store shopping present challenges as indicated by 32% of shoppers, particularly dads (46%), compelling them to navigate both channels for their BTS needs. In-store challenges revolve around checkout queues, limited variety, and stock shortages. Online shoppers, grapple with issues like shipping costs, cart thresholds, product unavailability, and inability to inspect/try the products. A promising solution could involve finding products in-store for online purchases, while shipping products that are out of stock in-store, to home next day.
4. Navigating Inflation’s Impact:
Meeting the preferences of value-driven shoppers through a focus on essentials or the provision of bundled deals becomes crucial. This is because inflation’s shadow distinctly molds the landscape of BTS shopping. Just over half of shoppers we spoke with reported they were adjusting their BTS budgets this year, with 62% reporting an increase in budget was due to inflationary pressures. For the majority of those who are still shopping for BTS items, they are prioritizing only essentials going forward.
5. Leveraging Sustainability as a Factor in Shopper Decisions:
Certain shopper segments are willing to invest in sustainable options highlighting the evolving nature of shopper preferences and the role of various factors in shaping purchase decisions. Despite inflationary pressures on BTS choices, sustainability is still seen as important among 70% of BTS shoppers. This conscious behavior is more pronounced among the Millennials (87%) we surveyed as compared to Gen Z (60%). A sizable proportion of dads and caregivers are seeking equilibrium between price and quality, prioritizing durability and sustainability (81%).
6. Harnessing Multi-Channel Synergy
Leverage the influence of various touchpoints on purchase decisions. BTS circulars, shelf displays, and recommendations from school staff play pivotal roles in addition to price and coupons. By employing a cohesive strategy, retailers can create an environment that also aids last-minute shoppers in making efficient, well-informed purchasing decisions, even during the hectic back-to-school rush.
By unraveling the complexities of spending behaviors, preferences, and challenges, you’re primed to provide a shopping experience that aligns with the diverse needs of your consumers. Contact us to discuss how the shopper journey may differ for your category.
