Research Indicates Retailers can Capture Spend by Engaging Consumers When and Where They Shop
LIVONIA, Mich., July 16, 2018: Valassis, a leader in activating consumers through intelligent media delivery, today shares insights to help retailers capture back-to-school spend. According to the National Retail Federation (NRF), back-to-school is the second largest consumer spending season for retailers, with consumer spend projected at $82.8 billion on back-to-school and back-to-college shopping in 2018, or $27.5 billion and $55.3 billion respectively.
Back-to-school shopping begins early – approximately one in four consumers planned to shop at least two months before school starts, with 53 percent of back-to-college shoppers beginning three weeks to one month in advance of the semester. According to a survey from RetailMeNot, 84 percent of retailers believe back-to-school shopping will begin on or before Amazon Prime Day 2018 (today), and 60 percent planned to run promotional offerings that targeted shoppers before Prime Day.
Retailers can get ahead of back-to-school and back-to-college shopping by engaging with consumers – especially parents – when and where they shop. According to Valassis’ Capturing the Dynamic Retail Shopper: Parent Snap insight, parents are more likely than all consumers to research and plan for every purchase across shopping categories, which is especially helpful for retailers to keep in mind during back-to-school season. These categories include apparel (53 percent versus 43 percent of all consumers); electronics (67 percent versus 58 percent); furniture (74 percent versus 65 percent); and housewares (64 percent versus 52 percent). The research also found that while “at home” is the number one place for planning purchases, parents are also more likely to plan at work and on-the-go: 34 percent of parents will plan less expensive furniture/mattress purchases at work (vs. 24 percent of all consumers) and 30 percent will do so on-the-go (vs. 21 percent of all consumers).
In addition, Valassis’ Building Loyalty with Dynamic Shoppers research reveals consumers can be swayed by advertised promotions and sales, especially parents and millennial parents (83 percent and 82 percent, respectively, compared to 73 percent of all consumers). This is supported by The NPD Group’s research, which reveals that 72 percent of consumers only bought items that were on sale or discount during the 2017 back-to-school season.
“It is critical for retailers to be promotionally aggressive so they don’t lose ground in what is expected to be a highly competitive back-to-school season,” said Curtis Tingle, Chief Marketing Officer, Valassis. “Savings will be top of mind for back-to-school shoppers this year, and brands will need to start early in order to capture back-to-school spend, especially around Amazon Prime Day. As we’ve seen in previous years and in recent data from RetailMeNot, Amazon Prime Day is expected to rise the tide for all retailers – not just Amazon – and brands should leverage savings opportunities and targeted messaging to activate consumers.”
For additional insights, please visit Valassis.com.
Valassis helps thousands of local and national brands tap the potential of industry-leading data through intelligent media delivery – understanding, engaging and inspiring millions of consumers to action with smarter cross-channel campaigns. We’ve been a part of consumers’ lives for decades, introducing new ways to deliver offers and messages that activate them — whether via mail, digital, in-store or the newspaper. NCH Marketing Services, Inc. and Clipper Magazine are Valassis subsidiaries, and RetailMeNot Everyday™ is its consumer brand. Its signature Have You Seen Me?® program delivers hope to missing children and their families. Valassis and RetailMeNot are wholly owned subsidiaries of Harland Clarke Holdings.