[Tree] Back-to-school shopping trends and consumer spending
Version 0.26 (2024-08-25 12:35:20.437000)
updates: Projected spending decreased from $41.5 billion to $39 billion
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Version 0.25 (2024-08-17 15:06:30.561000)
updates: Added information about the risks of counterfeit school supplies and the warning from CBP and U.S. Chamber of Commerce
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Version 0.24 (2024-08-07 14:06:50.863000)
updates: Includes the crucial role of American businesses
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Version 0.23 (2024-08-04 15:02:33.563000)
updates: Parents sacrificing necessities for back-to-school expenses
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Version 0.22 (2024-08-02 08:02:53.297000)
updates: New survey data on in-store shopping for back-to-school season
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Version 0.21 (2024-08-01 17:08:52.351000)
updates: The survey by Sensormatic Solutions reveals that 74% of U.S. back-to-school consumers plan to shop in-store. The survey also highlights the popularity of 'buy online, pick up in-store' (BOPIS) and curbside pickup. Due to the state of the U.S. economy, 34% of respondents plan to spend significantly less than in previous years. Retail theft and crime are growing concerns, with 44% of shoppers considering safety and comfort when choosing where to shop. Many shoppers are considering reusing supplies from prior years or shopping at discount or secondhand stores. Additionally, 83% of respondents consider sustainability in their purchasing decisions, with 45% using reusable shopping bags and 41% choosing products with sustainable packaging. Retailers are working to ensure a safe and seamless shopping experience for back-to-school shoppers. Sensormatic Solutions advises retailers to leverage data-driven technologies to understand customer behavior and adjust their strategies accordingly. A survey of 2,000 U.S. parents of elementary school kids found that 77% would try any means necessary to save money on school supplies, including dumpster diving and stealing from work. The top resources parents have used to keep their back-to-school shopping under control include purchasing school supplies on sale and shopping at multiple stores for the best deals. Over half of the parents would be willing to group-buy school supplies with other parents. The survey also found that 82% of parents believe the cost of supplies has increased in the past year, with an average anticipated spending of $280 on supplies this year. Additionally, 44% of parents would consider giving their kids money to spend on school supplies, but many believe their kids would use it on snacks, candy, and games instead. Kids are more concerned about having name-brand school supplies than parents, and 59% of parents feel like their kids pester them to buy certain name-brand items. Consumers are moderating spending and buying store-brand or generic products to save money during the back-to-school season. According to a report by RSM US, back-to-school spending is expected to decrease in 2024. The report highlights that personal savings as a percentage of disposable income has fallen from 24.5% to 3.5% between 2020 and now. Back-to-school spending grew 57% between 2019 and 2023. The personal consumption expenditures price index has moderated to 2.6% year-over-year growth. Credit card and auto loan delinquencies are increasing across all age groups. U.S. consumers are choosing to buy less expensive products and opting for store-brand or generic options. The report advises middle-market businesses to realign target audience profiles, maintain item penetration, innovate existing products, and leverage new technology to reduce operational costs.
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Version 0.2 (2024-08-01 16:59:31.528000)
updates: Added information about consumers moderating spending and buying store-brand or generic products to save money during the back-to-school season. Included insights from a report by RSM US on the expected decrease in back-to-school spending in 2024, the decline in personal savings, and the increase in credit card and auto loan delinquencies. Provided recommendations for middle-market businesses to adapt to the changing consumer behavior.
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Version 0.19 (2024-08-01 13:15:18.628000)
updates: New survey data on back-to-school shopping trends and parental strategies
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Version 0.18 (2024-07-21 12:59:04.813000)
updates: Information on parents' financial struggles and extreme measures to afford school supplies
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Version 0.17 (2024-07-14 05:54:16.511000)
updates: Updated information on back-to-school shopping trends and consumer preferences
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Version 0.16 (2024-07-12 12:12:08.509000)
updates: Added information about back-to-school advertising and OOH practices
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Version 0.15 (2024-07-10 14:58:05.094000)
updates: Updated information on back-to-school shopping preferences
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Version 0.14 (2024-07-10 13:56:31.720000)
updates: Highlights the preference for in-store shopping and the popularity of BOPIS and curbside pickup
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Version 0.13 (2024-07-08 11:32:18.009000)
updates: Inclusion of information about Back to School allowance in Ireland
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Version 0.12 (2024-07-03 13:55:52.260000)
updates: US parents plan to increase back-to-school spending by 21.8% in 2024, outpacing 3.4% inflation. Wealthier households will boost budgets by 30%. Amazon, Walmart, and Target dominate, with Amazon now second. College-bound students' spending averages $741. Despite inflation, parents earning over $50,000 won't cut budgets.
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Version 0.11 (2023-11-24 12:36:08.876000)
updates: Includes book recommendations and mentions record-breaking sales
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Version 0.11 (2023-11-24 12:36:08.876000)
updates: Includes book recommendations and mentions record-breaking sales
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Version 0.1 (2023-11-24 02:37:06.406000)
updates: Black Friday shopping guide and consumer sentiment
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Version 0.07 (2023-11-22 17:04:25.966000)
updates: Black Friday kicks off US holiday shopping season
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Version 0.06 (2023-11-22 16:10:35.827000)
updates: Consumer sentiment and spending plans for the holiday shopping season
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Version 0.05 (2023-11-22 14:57:12.656000)
updates: Updated information on consumer spending and concerns
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Version 0.03 (2023-11-22 01:57:25.018000)
updates: Updated with information about Black Friday shopping season
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Version 0.02 (2023-11-17 14:18:31.302000)
updates: Inclusion of survey data on increased number of people shopping during Thanksgiving weekend
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Version 0.01 (2023-11-15 15:44:28.916000)
updates: Updated holiday sales predictions and consumer behavior
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