Back to School Forecast
It’s That Time of Year Again!
Cardlytics does its homework and reports on what’s in store
for the second-biggest shopping season of the year.
By RM Staff
The kids might still be at camp, or the family vacation isn’t yet over. But, don’t look now: The back-to-school shopping season has begun!
Among the trends this year is the continuing migration of shoppers to online, with purely e-commerce retailers such as Amazon showing the fastest growth, according to marketing intelligence firm Cardlytics.
Cardlytics released its annual back-to-school data findings in July. It revealed five key findings based on its analysis of $2.4 trillion in purchase data across its banking partners.
1. Spending Grows – This will continue a trend from 2017-2018, when Cardlytics says total back-to-school spend grew by 2.5 percent. More shopping is getting done online, with purely e-commerce retailers capturing 17 percent of spend.
2. Don’t Count In-Store Out – Despite the continuing migration to online shopping, in-store spending still dominates. In fact, physical stores still account for nearly 80 percent of spending during this shopping season, Cardlytics says.
3. It’s Good to be Horizontal – General and multi-line retailers such as Target, Walmart and Amazon accounted for nearly 75 percent of all back-to-school spending last year. Cardlytics will be watching to see whether this trend holds true in 2019.
4. Omnichannel Shoppers are Key – Are you shopping for school supplies both online and in-store? If so, you help account for the 48 percent of spending that is driven by omnichannel shoppers.
5. Fall Sales Drive Loyalty – Cardlytics urges retailers keep the momentum going even when the back-to-school season ends. After all, you’ll see many of those same shoppers again when the holiday shopping season comes around later in the year. “Customers acquired during the fall spent 20 percent more overall than customers acquired in December,” the firm notes.
Want to know more? Visit https://www.cardlytics.com/blog/back-to-school-season-has-arrived/.