Back-to-school season is here, and it’s bigger than ever. In the U.S., 17.2% of the entire year’s retail sales happen during back-to-school shopping. That’s a cool $828 billion dollars annually.
But, there’s a big way that the back-to-school season differs from the holidays – discounts. 46% of shoppers said that price is one of their main deciding factors for purchasing, and almost 10% of shoppers said their purchases were 100% influenced by deals.
With such price sensitive shoppers, you need to focus on customer lifetime value, instead of the value of this first purchase. Develop a strategy to continue to build your relationship with these shoppers (and at the same time, get them to come back and purchase from you again). With that foresight, you’ll be able to benefit from these customers through the holiday season.
Check out the infographic below from The Shelf for more data, tips, and tricks to get back-to-school ready.