Retail industry learns insights from prevailing trends in back-to-school shopping
In the lead-up to the new school year, a significant shift in shopping behaviour has emerged, with parents and consumers moving up their purchases earlier than ever before. This trend, according to the National Retail Federation (NRF), is largely driven by concerns over potential price increases due to tariffs.
The NRF's latest surveys reveal that the highest percentage of early shopping for back-to-school items since they began tracking in 2018 has been recorded this year. A staggering 67% of parents have already started their shopping in early July, an increase from 55% last year. This early demand indicates an earlier start to the shopping season.
This shift in consumer behaviour is a response to economic stress and uncertainty. Shoppers are expecting price increases if they delay purchases due to tariff volatility, and as a result, are moving up their shopping around key seasons such as back-to-school.
Amazon is playing a crucial role in this early shopping trend. According to Kantar's research, shoppers are using Amazon as a means to compare prices and find the lowest price. Parents are even using Amazon as a price-checking tool to validate the best prices before making purchases at other retailers.
Retailers are also adapting to this early shopping trend. They are stocking up inventory early to get ahead of tariff changes and promoting it earlier to attract shoppers. Shoppers are utilising stores like Target and Walmart for stocking up and looking for private label brands versus national brands.
Interestingly, discount retailers such as Aldi, Lidl, and Penny have gained favour among parents this school year. These retailers, known for offering consistently low prices while maintaining good quality, service, and shopping experience, help parents manage their expenses amid economic challenges.
This trend of early back-to-school shopping is a testament to the adaptability of consumers and retailers in the face of economic uncertainty. As tariff concerns continue to loom, it is likely that this trend will persist, shaping the retail landscape in the coming months.
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