Back-to-School Shopping at Halfway Point
WASHINGTON -- Although families started shopping for back-to-school and college items earlier than ever this year, they still had more than half of their shopping lists to complete as of the first week of this month, reports the National Retail Federation.
For those who still need to make purchases, nearly 70% will turn to technology such as a tablet computer or smartphone.
The average person with children in grades K-12 has completed 40.1% of his shopping while college students and their families have completed slightly more at 45.3%.
Overall, school and college shoppers are projected to spend $83.8 billion this year, according to National Retail Federation surveys.
“Given how much of an impact the economy is having on consumers’ buying decisions, retailers will remain competitive up through the final sale after Labor Day, rolling out Web, in-store and even mobile promotions to entice children and their parents,” noted Matthew Shay, president and CEO of the federation.
More college students and their families have already finished their shopping (16.4%) than school shoppers (7.8%). In additional, there are fewer school and college shoppers who say they have not started their shopping (28.5% versus 31.1% of college shoppers last year, and 26.9% versus 28.3% of K-12 shoppers.)
When it comes to how families will pay for their school and college merchandise, the survey found debit and check cards are the preferred vehicle for shoppers this year. Some 42.5% with children in grades K-12 will rely their debit cards, similar to the 39.4% of college students and their families. Some 28.4% favor cash and another 25.6% prefer credit cards. College shoppers are more likely to use their credit cards (29.4%) over cash (26.7%).
With eight in 10 Americans saying the economy will affect their school and college spending, it’s no surprise promotions and coupons are popular with families. Of those who have begun shopping, 38.5% with children in grades K-12 say at least half of the school-related purchases they made were influenced by coupons, sales and promotions, down slightly from 41.5% last year. The same number of college shoppers (38.6%) said at least half of their purchases were influenced by sales and promotions, up from 34.2% last year.
To wrap up their shopping lists, school and college shoppers will continue to look for bargains as they comparison shop in stores and online. Back-to-school shoppers will do the remainder of their shopping at discount stores (59.6%), department stores (54.4%), clothing stores (42.9%), electronics stores (13.7%), and online (27.2%).
College students and their families will head to discount (47.6%), department (41.1%) and clothing stores (30.1%). And, 34.6% of college shoppers will do the remainder of their shopping online. “With so many shoppers relying on debit cards and cash this year, it’s clear that parents are determined to send students back to class on budget,” said Pam Goodfellow, director of BIGinsight Consumer Insights, which conducted the survey.
Nearly seven in 10 tablet owners will use their tablets to shop for school and college items, and more than half of those who own smartphones will shop in some way via their mobile devices for both school and college merchandise. Specifically, 68.9% of college students and their parents and 67% of school shoppers will use their tablets; 58.7% of smartphone owners will use their mobile device compared to 51.6% of back-to-college shoppers.
Of those who own tablets, 43.8% will use one to research products and compare prices while 40.6% of college students and their families will use their tablets to research products and compare prices. The survey also found that 28.4% of shoppers with children in grades K-12 will make a purchase with their tablet, while 34.5% will commit to purchasing college items via their device. Adults 25 to 34 are among the most likely to use tablets for back-to-class purchases.
When it comes to smartphone use, most 33.3% of back-to-school and 31.5% of college shoppers will use their smartphones to research products and compare prices. These numbers rise among 25- to 34-year-olds, with the majority of smartphone owners in this age group using their devices to research products and compare prices for back-to-school (54.2%) or college (50.1%).
“There’s no question that mobile technologies have changed the game for shoppers, especially when it comes to bigger shopping trips that require higher budgets,” said Goodfellow. “Savvy shoppers are learning how to seek out coupons, sign up for text alerts from their favorite companies to receive instant rebates, and even download applications that enhance the shopping experience.”
Published by The Business Journal, Youngstown, Ohio.