Extended Back-to-School Shopping Season Offers Deeper Discounts From Retailers and Massive Savings Opportunities for Consumers
- Amazon Prime Day kicked off the three-month-long back-to-school shopping season, with 194 retailers issuing competitive deals on RetailMeNot.com, a 63% year over year increase versus 2017*
- 76% of retail marketers say their companies are investing more in back-to-school marketing this year
- 67% of shoppers say they look for more savings during this season than they do during other times of the year
AUSTIN, Texas, July 19, 2018 /PRNewswire/ -- This week, Amazon Prime Day kicked off the back-to-school shopping season, a three-month period that has become the longest shopping season in the United States. RetailMeNot, Inc. and Kelton Global surveyed retail marketers and consumers while analyzing internal traffic and engagement data on the back-to-school shopping season, and today announces the release of the 2018 Back-to-School Insights Guide.
View RetailMeNot's 2018 Back-to-School Insights Guide.
Survey results indicate retailers are optimistic about the back-to-school shopping season, and they're increasing budgets to offer more and in some cases deeper, discounts for consumers in 2018. In fact:
- 3 in 4 retailers (76%) are expected to increase marketing spend.
- 79% of retailers will offer more back-to-school discounts.
- 75% of retailers plan to offer deeper discounts for consumers.
"The back-to-school shopping season, due to both its length and varied product assortment, is increasingly important to the retail industry," said Marissa Tarleton, chief marketing officer, RetailMeNot, Inc. "By thinking strategically about promotions during this long season and experimenting with new marketing tactics, retailers have the ability to leverage data and insights to position themselves for success during this critical time of year."
Knowing the importance of this time of year, 75% of retailers are planning to start their back-to-school marketing efforts earlier in 2018, and 84% of retailers surveyed believe back-to-school shopping began on or before Amazon Prime Day this week.
Consumers Plan to Spend More, With Savings Top of Mind
Expected consumer spend is up across all back-to-school categories, with shoppers indicating increases in planned purchases of clothing, electronics and shoes.
While the back-to-school shopping season spans from July to September, 60% of parents prefer to purchase all of their back-to-school items in three shopping trips or less. Based on RetailMeNot shopper traffic and engagement data, retailers should focus their promotional efforts around Prime Day and the week following, the first weekend in August and Labor Day weekend to match anticipated consumer demand.
More than ever, parents are looking for ways to save on back-to-school clothing and supplies. Among those surveyed:
- 67% of shoppers say they look for more savings during this season than they do during other times of the year — up from only 36% who said the same in 2017.
- 65% agree that final price is the biggest determining factor in what they buy for their children during back-to-school.
Back-to-School Still Happens In-Store
Sixty percent of retailers are focused on in-store shoppers with good reason, as nearly all parents (96%) will head to a brick-and-mortar store at least once while back-to-school shopping. In fact, among those heading to a store, 58% will complete the majority of their shopping there.
Because retailers continue to be more promotional and strategic with how they leverage their physical stores, shoppers can expect a seamless, innovative experience in stores this season.
- More than half of retailers (52%) said they're planning special in-store events, such as celebrities or influencers visiting their stores.
- 39% plan to offer food and drink to consumers while they shop in their stores.
- 47% of retailers are planning new collaborations with other brands.
Online shopping still matters, though, and 72% of parents surveyed will shop online at least once during the back-to-school season. Interestingly, during this long shopping spell, there are savings to be found for everyone — not just parents and students. More than half of shoppers (56%) plan to buy non-school-related items while back-to-school shopping if they find a good deal.
For more data, download the full 2018 RetailMeNot Back to School Insights Guide.
Methodology
A RetailMeNot, Inc. retailer survey was conducted by Kelton Global between Friday, May 4, 2018, and Thursday, May 10, 2018. During this time, 200 interviews were captured via a 15-minute online survey. Key groups of interest were examined in this analysis, including senior managers/directors and higher and retailers who have or have not partnered with RetailMeNot in the past 12 months. Additionally, a RetailMeNot, Inc. consumer survey was conducted by Kelton Global between Monday, May 7, 2018, and Friday, May 11, 2018. During this time, 1,005 interviews were conducted via a 10-minute online survey to parents who will be back-to-school shopping for their children who are under the age of 18.
Key time-frame data and insights are based on analysis of a subset of the 500,000 offers from 50,000 retailers within our internal data, including engagement insights from consumers who engaged with these retailers on RetailMeNot's website and app platforms between July and September 2017.
2018 Amazon Prime Day statistics are current as of July 18, 2018.
About RetailMeNot, Inc.
RetailMeNot, Inc. (https://www.retailmenot.com/corp/) is a leading savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The company enables consumers across the globe to find hundreds of thousands of offers to save money while they shop or dine out. RetailMeNot, Inc. estimates that $4.8 billion in retailer sales were attributable to consumer transactions from paid digital offers in its marketplace in 2017, more than $560 million of which were attributable to its in-store solution. The RetailMeNot, Inc. portfolio of websites and mobile applications includes RetailMeNot.com in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk in the United Kingdom; ma-reduc.com and Poulpeo.com in France; and GiftCardZen.com and Deals2Buy.com in North America. As wholly owned subsidiaries of Harland Clarke Holdings, RetailMeNot and Valassis, a leader in intelligent media delivery, are partnering to connect retailers and consumers through meaningful digital, mobile and print promotions both online and in store.
Media Contacts:
Michelle Skupin
RetailMeNot, Inc.
[email protected]
(808) 224-3215
Chelsie Baugh
RetailMeNot, Inc.
[email protected]
(512) 387-8378
SOURCE RetailMeNot, Inc.
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