5 Back-to-School Shopping Trends With Valuable Lessons for All Businesses
1 min read
Image caption: Responding to inflation woes, Target is offering $1 deals on back-to-school products, and telling parents they can find nearly everything they need for school for $10 or less. — Target. Article by Joan Verdon. US Chamber of Commerce – August 5, 2022.
Here’s how retailers are adjusting their sales strategies to tap into key changes in consumer behavior.
Why it matters:
- Back-to-school is the second biggest shopping event of the year after the winter holidays.
- Back-to-school spending in the U.S. for K-12 students is expected to match last year’s record high of $37 billion, while back-to-college spending is on track to grow by $3 billion, to a record $74 billion.
- The decisions back-to-school shoppers make as they adjust for inflation and supply chain shortages hold important clues businesses can use to plan for the holiday season. […]
