Cost-conscious shoppers extending back-to-school shopping season, survey finds
Inflation-driven spending caution and promotional sensitivity have made U.S. shoppers plan back-to-school spending around key discount days, extending the start of school shopping season for retailers, according to the latest research from HubBox, the e-commerce software that offers Ship to Access Point delivery, providing flexible shipping to 250,000 local pickup points worldwide.
Original research of over 1,000 U.S. shoppers by HubBox showed that 77% plan to make back-to-school or back-to-college purchases this year, with the average household intending to spend $1,196.20 during back-to-school 2024 across fashion, stationery, electronics and other academic accessories.
However, while back-to-school represents a sizable opportunity for retailers, with the compounding impact of inflation prompting U.S. retail sales to slow, three quarters (73%) of those making back-to-school purchases are trying to limit their spending, with the same proportion (73%) trying to reuse items bought in back-to-school 2023 for this academic year to save money.
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This year, 65% will only buy discounted back-to-school items, which is making U.S. shoppers prioritize making purchases during retailers’ discounting days or events. Two-thirds (66%) of shoppers, for instance, held off making back-to-school purchases until Amazon’s July Prime Day to capitalize on deals, while 73% plan to hunt for further discounts on additional back-to-school purchases over the Labor Day sales period in September.
“After a prolonged period of price rises, U.S. shoppers have become much savvier in how, where and when they spend, meaning brands need to fight harder for share of wallet. With shoppers trying to make back-to-school budgets go further, this has put increased emphasis on discounting events, which means the extended back-to-school season is now bookended by Prime Day in July right through to September’s Labor Day sales," said Sam Jarvis, CEO of HubBox. "And that’s putting extra pressure on retailers’ delivery networks over a longer period, especially when consumers increasingly demand fast, but also convenient fulfillment options.”
With 63% of back-to-school purchases being last-minute orders, consumers increasingly demand rapid fulfillment options; 84% of those polled by HubBox said timely fulfillment was key for their back-to-school purchases.
Shoppers also want convenience built into back-to-school shopping, with over half (55%) wanting the option to pick up online orders at a convenient location, such as a local store or UPS Access Point. The study also revealed that late deliveries risk significantly impacting customer loyalty, with a quarter (25%) saying they would return items if deliveries were late.
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“During what is now an extended shopping season, retailers must prioritize reliable fulfillment to maintain customer trust. And that means offering flexible delivery options that meet consumers’ need for speed as well as ensuring deliveries are made on time and to the most convenient location for each consumer,” Jarvis said