Anyone who’s been in the retail business knows how important capitalizing on the shopping wave during the back-to-school, or BTS, season is. Depending upon which expert you ask, this potential boom in sales is the 2nd, or 3rd, biggest one during a calendar year.
As summer camps draw to an end, parents start a frenzy of last-minute shopping for school, which, combined with back-to-college shopping, translates to a whopping $68 billion spent. This means that merchandising and marketing strategies, and the ever-important multi-channel shopping experience at retails chain, all need to be tweaked.
Let’s take a closer look and delve deeper into seasonal retailer and e-tailer techniques for riding the back-to-school wave, and what exactly BTS and BTC mean for retailers.
Understanding the Significance of Back-to-School Shopping
The BTS season is a little different from the boost in sales during ‘normal’ holiday seasons. In a nutshell, it’s longer than these other ‘boosted sales’ periods.
Parents may begin their research on products, prices, and promotional offers — usually online — as early as July. They compare the collected data and make their decisions by the month of August, making the purchase around the same period. Last-minute frazzled trips are usually done and dusted by September. This means that retailers have a longer window of potential sales compared to other big sales days, such as (say) Black Friday.
Products that receive a boost during the BTS shopping window include office supplies, apparel, electronics, and books. This long list of products, and the relatively longer sales window, make strategies a little more complicated during the BTS season.
Brick-And-Mortar Stores Rejoice!
As more and more e-tailers take over territory originally occupied by brick-and-mortar retail outlets, you could be forgiven for assuming that retail stores won’t be doing much business. To the contrary, though, it’s these stores that will see more traffic than their online counterparts. While parents will head to their laptops to buy devices and wearables for their kids, all other purchases will get them walking into brick-and-mortar stores.
School supplies such as notebooks, textbooks, and writing materials drive parents to stores, with kids in tow. Stores are the primary choice for parents buying writing materials and books (87%). These are followed — in terms of brick-and-mortar store demand — by shoes (80%), jewelry and accessories (64%), and clothes (64%).
Even as store-based retailers gear up for wars with e-tailers during the upcoming holiday season, they are set to receive a boost in sales from BTS parents.
It’s easy to see why: parents need to shop with their kids to accommodate their preferences, and most feel this is best done at a store, rather than online.
Tailoring Your Strategies Accordingly
Since we’ve already discussed the massive potential of this season, let’s take a look at marketing — and merchandising — strategies designed to help you achieve optimal returns.
First, you’ll need to understand that customers are primarily concerned with who offers the best deals. As a retailer, your first priority would be to think along those lines, and come up with a strategy that helps you put your brand right there. Even Apple — not a brand known for offering sales — caves in during the BTS season, offering discounted ‘student’ and ‘education’ prices.
Clothing giants such as Urban Outfitters and H&M target children from middle-school through college age with carefully planned ads. Take a closer look at textile e-tailer websites, and you’ll probably see smiling school and college kids, with huge blurbs advertising discounts up to 70%.
Take a look at your competitors, and make sure you stay ahead of the game. Build marketing strategies around the BTS shoppers, and you’ll see your sales numbers rise.
E-Commerce-Specific Strategies, Techniques, and Ideas
With so many consumers spending so much of their time online, the retail industry today — while still relying on in-store interactions — has grown to depend on big data and online transactions.
If you haven’t done so already, it’s time to embrace social media platforms like Facebook, Instagram, Pinterest, and Twitter. In fact, that last tweet-broadcasting platform now has a ‘buy’ button, letting you sell products right off your Twitter timeline. If you aren’t aware of what the ‘Twitter’ timeline is, your brand’s social media game is in need of some serious updates this BTS season.
Seeing as 41% of college-goers base their buying decisions on smartphone-based research, M-commerce is another concept that needs to be embraced in order to ride the BTC wave.
Wherever your potential customers spend their smartphone browsing time is where your brand needs to be front and center. For instance, the humor app ‘9GAG’ had 164 million visitors in December 2015 alone. Considering that most of these users are college students on their phones, this is a great place to advertise.
You can use retail analytics software providers such as Intelligence Node to help you build strategies based on big data and competitor trends.
Embracing concepts like new social media platforms and big data, and understanding the significance of a strategy tailored to buyer trends in the BTS season, you’ll be able to capitalize on the buying trends of parents scurrying to stores with school-going kids close on their heels.