By: Kazon Robinson
Like with all things sales come and go, bargains come and go, and clearance prices come and go. Whether it is the craze-induced Black Friday sales or Cyber Monday, all companies will agree that they want their products to be bought.
However, that plan won’t always work and sometimes there will be less consumers wanting to buy a company’s products that season. Sometimes people won’t want to invest their money into those sales despite the occasion. An example of that is scene in back to school shopping seasons.
In fact, a recent report from Retail Customer Experience tells of the change in consumers. The report references the use of annual Deloitte’s and National Retail Federation’s survey on school related spending. Some of the information from Deloitte includes:
· Compared to college students, shopping for K-12 is seen as less important. Plus college students are more likely to buy throughout the school year.
· Consumers are not as driven by discounts
· Consumers are more likely to make purchasing decisions prior to being at the store with digital services playing a stronger role.
· Consumers are no longer driven solely by discounts.
Next up is the National Retail Federation which lists its own pieces off information:
· The average family with children grades K-12 will spend less. The number going from $669.28 to 630.36
· The total amount of spending expects to reach 24.9 billion.
· Due to the economy over 76.4 percent of families with school-age children will change their spending.
· Families will spend up to $117.56 on new shoes.
Deloitte summarizes one similar point which is about the consumer’s changing patterns. Unlike the previous year where they had gotten better results. Deloitte LLP Vice Chairman and Alison Paul state in a report, “Consumers are sending a message to retailers that says the back-to-school shopping season just isn't that important anymore…”
As for the National Retail Federation they also imply this change in the consumer’s patterns. NRF President said in a release, “As seen over the last 13 years, spending on ‘back-to-school’ has consistently fluctuated based on children’s needs each year, and it’s unlikely most families would need to restock and replenish apparel, electronics and supplies every year.”
Sales come and go, but like with all things, so do customers thoughts on what should be bought and what shouldn’t be bought. The digitalized marketplace and the impact of the economy show how the customer is effected in so many ways beyond the surface level. With that in mind corporations must always be ready to innovate and seek ways such as free shipping or same-day delivery to entice customers.
About the Author: Kazon Robinson is currently a Marketing Intern at IIR USA and a high school student at All Hallows. Kazon helps oversee and revise the data entry of spreadsheets with information relating to investors, twitter handles, and conferences. He also has experience interacting with other writers from participating in the AH Writers and Authors Club. He has previously worked at Bronxworks Betances Community Center as an Office Assistant where he provided professional service and directions for callers. He can be reached firstname.lastname@example.org