5 Game-Changing Tips for Back To School Sales
“The back-to-school and college season is an important time for retailers and consumers,” said NRF Vice President of Industry and Consumer Insights Katherine Cullen.
With online shopping dominating over 50% of the market, being well-prepared before launching your back-to-school sale is key to maximizing impact and reaching your target audience effectively. This blog post offers 5 key insights to help businesses boost sales during the back-to-school season.
When is the right time to start a back-to-school sale?
Usually occurring from early-July until late September, the Back to School season is one of the longest-running sales events of the year.
This period of time is prolonged because it needs to provide ample time to cater to the diverse needs of families during and after the summer months. During summer time, lots of families and children are preoccupied with vacations, camps, and other summer activities, often postponing the task of gathering school supplies for the upcoming semester.
It’s sometimes not unusual for the sale period to extend into early October, even after the new semester has started. This is because some students may procrastinate or wait until they receive specific requirements from their teachers before making necessary purchases.
Given these factors, businesses have considerable flexibility in determining the best time to launch their Back to School sale.
Why should businesses run a back-to-school sale?
According to a report by the NRF, online shopping accounted for 50% to 55% of the back-to-school shopping market share in the U.S. in 2022 and 2023, and this figure is expected to reach 57% during this 2024 sale season. This significant growth underscores the importance of businesses leveraging back-to-school sales to attract customers through online channels.
Despite concerns about inflation and other economic challenges, consumers have not reduced their spending on school shopping. NRF projections indicate that this year’s back-to-school spending will match last year’s record-breaking figures and surpass pre-pandemic levels. On average, families with children in elementary through high school plan to spend approximately $874.68 on clothing, shoes, school supplies, and electronics. Moreover, college students and their families intend to spend even more. In 2024, the average household spending for back-to-college is expected to exceed $1,300.
5 tips to boost your sales during the 2024 Back-to-school season
1. Select the right timing and target customer
Whether businesses choose to start early in mid-July or opt for a later launch closer to September or even October, the key is to select a timing that aligns with their business strategy and customer target.
- Timing
The back-to-school season can vary significantly depending on the school start dates in different countries and regions, making it essential for businesses to research and identify the most appropriate timing for their specific market.
- Target customer
Additionally, businesses should focus on products that cater to the needs of their target audience, aligning with the items they offer. For example, technology companies can target high school and university students with computers and tech devices, while art supply stores can focus on art students, and office supply businesses can cater to teachers and schools.
For businesses with a broad product range, consulting surveys and statistics can provide valuable insights into which products to prioritize during this sales event. By tailoring their approach, businesses can effectively capitalize on the back-to-school season.
To take one example, according to Statista, parents in 2024 are expected to allocate the largest portion of their budget to electronics and computer-related equipment, with average household spending projected to surpass $309. This is followed by $253.29 on clothing and accessories, $170.43 on shoes, and $141.62 on school supplies.
2. Highlight key products effectively
- Orgzanize and feature sale items a dedicated collection or featured collection: By grouping these products together, you can capture the attention of parents, teachers, and students during the back-to-school season, and also make it easier for customers to find what they’re looking for quicker than normal.
This strategy streamlines the shopping experience and encourages customers to take advantage of special offers, boosting overall sales as they tend to purchase multiple items as part of a bundle or combo offer. When creating smaller collections, store owners should consider organizing by category, such as dividing products to “For students”, “For teachers”, “Highschool”, “Art school”, etc.
Back to School Deals 2024 (target.com)
Back to School Collection – Clothing, Bags, Shoes | Vans
Back-to-School Shoes, Clothing & Backpacks | Finish Line
Back to School, Back to Kohl’s With Savings & Style | Kohl’s (kohls.com)
- Design Eye-Catching Banners/Labels: Implement visually engaging banners or labels showing any ongoing discounts, bundle deals, or limited-time offers to prominently display your sale products. This design should capture attention quickly and guide customers to specific product areas. Effective banners not only notify customers about ongoing sales but also enhance visibility and drive traffic to your most important product categories.
Back to School Sale -Huge Range Of Items – Shop Now – JB Hi-Fi (jbhifi.com.au)
3. Giving bargain promotions
Everyone loves a bargain! Accounted for 84 percent, price is the leading factor determining where shoppers choose to purchase their Back-to-School items, according to Ankura’s 2024 Back-to-School Shopping Survey.
To effectively attract budget-conscious shoppers and also boost revenues during the Back-to-School season, it’s essential for businesses to utilize a range of promotions and deals. Brands can drive significant attention by offering enticing promotions such as buy-one-get-one (BOGO) offers, coupons, free gift offers, and discounts specifically for students. Consider creating Back-to-School bundles that include essential items offer convenience and savings, appealing to busy families who want to streamline their shopping experience.
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4. Well-prepared for the inventory
To have a successful Back-to-School season, it’s important to manage your inventory well. Predict the rise in demand and make sure you have enough stock. This way, your business can run smoothly, and you won’t run out of products when they’re needed most. Getting your inventory ready ahead of time means you won’t have to scramble to restock at the last minute, which is crucial for making the most of every sale.
Having too little stock can result in missed sales opportunities because customers may turn to other options if they don’t find what they’re looking for. Good inventory management meets increased demand quickly, which helps capture more sales and provides a better shopping experience. This approach not only improves sales but also keeps customers happy by making sure products are always available, especially during busy shopping periods.
5. Be proactive with the marketing
To maximize the impact of your Back-to-School sale, it’s crucial to be proactive in your marketing efforts. In 2022, an estimated 35% of parents intended to utilize social media platforms to aid with their back-to-school purchases. Engaging your audience through effective use of email and social media can significantly drive traffic to your website.
- In email marketing, the main idea is to keep it simple. Emphasize your top deals and products that will grab customers’ attention. Clear communication of promotions and special deals is essential, as this straightforwardness will lead traffic to your site for further exploration and purchases.
The key takeaway for subscriber engagement is to offer special discounts or early access to deals, which imparts a sense of exclusivity and appreciation.
- On social media, the focus should be on providing content that adds value beyond just promoting your sale. Share useful tips, articles, or infographics that align with your audience’s interests, particularly those that help them prepare for the new school term. This strategy not only maintains your brand’s presence in their minds but also builds engagement, leading to increased store visits. Integrating these tactics forms a well-rounded marketing plan that not only advertises your sale but also supports your customers at a critical time.
Conclusion
By understanding your target audience, carefully selecting the right launch time, and implementing effective marketing and promotional tactics, you can significantly boost your sales during this extended shopping season.
