I’ve been talking a lot lately about creating statements in your store to capitalize on seasonality, weather, etc. Well, one of those times is fast approaching – Back to School.
Back-to-school is expected to generate nearly $19BB in sales this year according to the National Retail Federation’s 2007 Consumer Intentions and Actions Back-to-School survey, conducted by BIGresearch. Families with school-age children are expected to spend about $560 per family on back-to-school merchandise, up nearly 7% from last year.
According to the survey, the electronics, footwear and school supplies will see the biggest increases although 95% of all back-to-school purchases are on clothing and accessories.
When you tour through Target, Bed, Bath & Beyond and similar stores during this time period, it’s amazing to see shopping carts piled high with everything from shampoo to storage containers to alarm clocks. The great thing about the time period is that it’s relevant to an extremely wide audience. Kids over a 20-year span all go back to school…from pre-school to college and beyond — that’s a really BIG opportunity.
THE REAL WORLD RETAILING TAKEAWAY
You’ve heard me say it before…get proactive to get your piece of the pie.
You can refer to this post for insight into how you can capitalize on the back-to-school phenomenon. In short, it involves a few areas:
1. Get the right merchandise in your store
2. Create a focus area in your store
3. Tell people about it through marketing
This is one of those biggies for retailers and if you have a store that carries merchandise that’s relevant to a back-to-school promotional campaign, you need to get going…
Back to school = big bucks!