Back-to-school (BTS) spending to reach $41.5 B this year. After the holiday season, BTS is the second biggest spending event for families, which is why consumers are highly motivated by discounts. Digit7 throws a bit of context for you where shoppers are gone splurge or spend this year
Deals take centre stage
The shopping journey will focus on finding ways to save money, for example, researching the best deals, shopping earlier, and finding the best way to get the goods and return them in the most affordable way.
Prioritize Necessities
The most popular categories of spending are school supplies and clothing. With inflation still affecting everyone, shoppers compensate with a 20 percent increase in school supply purchases while decreasing spending on clothing accessories and electronics respectively by 14 % and 13 %, according to Deloitt
In-store vs Online
More than 4 in 10 back to school shoppers were taking advantage of emerging technologies to make their shopping safe and frictionless.
Splurge spending
Nearly 6 out of 10 parents are willing to spend the right amount of money for the right reasons, such as treating their child well, expressing themselves, or improving their quality of life. Retailers who can distinguish between the drivers of impulse buying could take advantage.
