Radio advertisers targeting back-to-school shoppers may want to make sure their spots air Labor Day weekend. Results from a study from e-commerce software HubBox show nearly three-quarters (73%) of consumers plan to wait for last-minute deals on school-related merchandise during those days.
According to HubBox’s survey, conducted in July among more than 1,000 U.S. shoppers, two-thirds (65%) say they’ll only buy discounted back-to-school items this year. As higher prices on all items remain a constant, it’s no surprise that 73% of back-to-school purchasers say they are trying to limit spending, while 73% say they aim to reuse items purchased last year to save money, as reported in Chain Store Age.
“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,” HubBox CEO Sam Jarvis says. “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.”
Overall, 77% of consumers say they plan to make back-to-school purchases this year, with an average household expenditure of $1,196.20. With last-minute orders in play for 63% of back-to-school purchases, rapid fulfillment is also an issue, with 84% saying this is important, and 25% saying they would return items if deliveries were late.
“During what is now an extended shopping season, retailers must prioritize reliable fulfillment to maintain customer trust,” added Jarvis. “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.”