Back-to-school shopping and back-to-school sales are in full swing, stressing out parents and stretching out budgets. But how are parents shopping, and where is the money going?
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We’ve gathered data from multiple brand-new surveys and studies to uncover the answer, an answer that will help marketers and retailers position themselves and their products this season.
Spending This Year is Breaking Records
Overall back-to-school spending in 2023 is predicted to hit $41.5 billion dollars, higher than any other year in history. Computers are partially to blame, with 69% of shoppers buying computer and electronic accessories for the classroom.1
Source: Back-to-Class Shopping Expected to Reach Record Levels | National Retail Federation and Prosper Insights & Analytics
Back-to-School Shoppers Are Going Online
Budget-conscious back-to-school shoppers do 13% of their shopping online, with 44% of all back-to-school shoppers starting their search on Pinterest.2
Source: Grab Your Piece of the 105B+ Back to School Spending | Resonate
Keyword search volume for back-to-school is up this year (147%!) after a decline in the 2022 season.3
Source: Back-to-School Shopping 2023 Trends: What Amazon Sellers Need to Know | Jungle Scout
Parents Willing to Spend More to Inspire Their Child
Despite inflation and economic concerns, 60% of parents were willing to splurge on a back-to-school item if it helped their child express themselves, or was a “treat.”4
Necessity spending for the classroom is up 20% from last year, while spending on apparel for the new year is down 14%.4
Source: 2023 Deloitte Back-To-School Survey | Deloitte
Credit Cards Are Letting Shoppers Stretch Their Budget
30% of back-to-school shopping parents need (and use) credit cards to get everything their child needs for school this August.5
Source: Record $41.5B in Back-to-School Shopping Forecasted for 2023 | Motley Fool
Shoppers Need Deals and Inspiration
It’s clear that the burden of back-to-school shopping is higher this year, a combo of inflation and more tech in the classroom. Necessities are more of a priority than recent years, with back-to-school clothing dropping down the list.
Retailers and marketers looking to woo shoppers this school year need to provide deals, they need to embrace Pinterest, SEO and other online channels to do it, and they need to stress how their back-to-school product can help children be creative or express themselves.
