Back-to-school: time of new beginnings ??

The back-to-school season is upon us. It’s a time of new beginnings for those going back to learning or teaching, and a busy time for business owners.?

In this newsletter, we’ll look at some graphs and stats to understand why the back-to-school season is crucial for brands and why is it such an excellent opportunity to both turn a profit and build a loyal customer base.

?? 2024 back-to-school spending forecast

The back-to-school shopping season is huge because it involves everyone from back-to-kindergarten to back-to-college. It’s also back-to-school for parents and caregivers and back-to-teaching for educators. It’s the second-largest shopping season behind Black Friday and Christmas.

The expected back-to-school spending per household in the US has gradually increased over the last 3 years to reach $890 per household in 2023. According to the National Retail Federation's survey history, total back-to-school spending is expected to reach $41 billion. The total expected spending is even higher for those returning to college—a staggering $94 billion.

Regarding?what people are buying: clothing is among the top 3 things to spend money on for those going back to school and college.

How can online store owners take advantage of this? They should consider offering something unique that helps customers stand out this new school year, or think about current trends that they could incorporate into their collections.

??? When does the back-to-school season start?

Early July is when most online retailers start planning back-to-school promotions. After two years of uncertainty and hybrid learning, parents, caregivers, kids, and teachers will be looking for products to make this new school year special.

If brands are targeting customers all around the globe, they should be mindful of the school year start date differences in the Northern and Southern Hemispheres. Here’s when school starts:

• United States—from mid-July to mid-September, depending on the state
• Canada—early September
• United Kingdom—beginning of September?
• Mexico—end of August
• Spain—mid-September
• Germany— between late July and early September
• France—beginning of September
• Italy—beginning of September
• Brazil—first week of February
• New Zealand, Australia—January, February
• Japan—April 1

As for back-to-school shopping, the graph below shows when shoppers plan to do their shopping.?The most active time for shoppers is from late July till early August.?

What does it mean for store owners? They have to start preparing back-to-school products, campaigns, and other incentives early. The earlier they jump on the bandwagon, the more people you can expect to snap up back-to-school essentials and engage with their brand!

Let’s find out how customers are doing their back-to-school shopping.

?? Where do people buy school supplies?

According to the National Retail Federation (NRF), online shopping remains a top choice for both back-to-school (50%) and back-to-college shoppers (43%).?

This means brands have tons of potential customers to connect with. Now on to how to reach them.?

?? Back-to-school marketing

As we said, this season is an excellent opportunity to make money while also building a loyal customer base. To do both, online stores will need a high-quality product and the ability to reach consumers in an engaging way.

Why is it essential to build a solid customer base that knows and trusts the brand? For a couple of reasons:

• It’s much easier to sell to an existing customer than to a new one
• An existing customer is more likely to try new products and spend more money compared to new customers
• Customers who know the brand are more likely to engage in word-of-mouth marketing (this is more effective than traditional marketing because people trust their friends and family more than they trust brands)

So, how can brands reach their audience and lay the groundwork for good relationships for years to come?

1. Meeting consumers’ needs
2. Offering the right products
3. Running back-to-school promotions
4. Creating valuable back-to-school content on social media
5. Engaging their audience

?? Class dismissed

Curious to learn more about back-to-school marketing ideas? Read the full article here. ??