Many Consumers Plan to Begin Back-to-School Shopping Later in 2011 Than in 2010, According to PriceGrabber® Survey
Forty-nine percent plan to begin their back-to-school shopping in August
LOS ANGELES, June 14, 2011 /PRNewswire/ -- PriceGrabber®, a part of Experian, just released the results of its Back-to-School Shopping Forecast survey, revealing that the vast majority of consumers (95 percent) are planning to use some sort of money saving technique when back-to-school shopping, and they plan to start shopping later in 2011 than they did in 2010. Conducted between May 12 and 19, 2011, the survey includes responses from 2,612 U.S. online consumers.
Consumers plan to shop later and take advantage of Internet discounts
It's the start of summer and the back-to-school shopping season is on the horizon, but survey data reveals that many money-savvy consumers are strategically planning to delay their shopping this year. According to PriceGrabber survey data, 49 percent of back-to-school shoppers plan to make purchases in August, compared to 38 percent who said that in 2010. Only 14 percent said they will begin shopping in June, versus 26 percent in 2010.
This shift to a later launch of back-to-school shopping can be attributed in part to the overwhelming number of consumers indicating that they will use the Internet, which allows shoppers to compare prices and take advantage of last-minute discounts. PriceGrabber survey data found that 69 percent of consumers will shop online or use comparison shopping Websites, and 41 percent will visit retailer Websites to print out coupons.
Most shoppers still plan to spread out their purchases
While shoppers are keen on taking advantage of last-minute Internet discounts, they continue to be wary of the economic climate and plan to spread out purchases. Fifty-five percent of back-to-school shoppers said they will distribute the cost of purchases over a longer time period.
"While the economic climate is beginning to improve, we are not surprised to see that back-to-school shoppers remain cautiously optimistic," stated Graham Jones, general manager of PriceGrabber. "Further analysis of the data supports the idea that consumers are careful to distribute their purchases over an extended period, if possible. However, shoppers are also becoming increasingly savvy and open to taking advantage of online shopping solutions that they may not have considered in the past, as can be seen by many consumers' decisions to begin shopping at a later date."
Consumers plan to spend the same amount or less than last year
Consumers will continue to be budget-conscious when it comes to their back-to-school purchases. Of the consumers who are shopping for back-to-school items this year, 52 percent plan to spend as much as they did last year and 35 percent plan to spend less. Only 13 percent plan to spend more this year because of the economic recovery.
"According to the data, shoppers are still focused on spending the same amount or less on back-to-school purchases this year, even as the economy improves," said Jones. "However, as consumers become increasingly accustomed to a frugal standard of living, they also become more creative in how they save. We are seeing more shoppers engage with the new technologies that are changing the retail landscape by comparing prices online and watching for price drops."
PriceGrabber, a part of Experian, is a leading online shopping site with more than 23 million unique shoppers monthly. At PriceGrabber, savvy shoppers can instantly find and compare millions of unique products and services across 25 categories with more than 11,000 merchants. Compare products side by side to find the right retailers at the best prices within popular categories, such as Digital Cameras, Electronics, Computers, Clothing, Books, TVs and more. PriceGrabber provides shoppers with the right product from the right merchant at the best price anytime, anywhere. Visit us at http://www.pricegrabber.com.
Experian® is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
For more information, visit http://www.experianplc.com.
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