RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce : August 18, 2017

BTS spend up 6%

Back to School spending is up about 6% YoY, and that could be a good sign for the upcoming holiday shopping season. New data out from Brand Keys notes that thus far BTS spending has topped the $716 per family mark, about 6% higher than 2016 numbers.

by Kristina Knight

"Smart, connected consumers," said Robert Passikoff, founder and president of Brand Keys, Inc., 'They keep getting smarter. They are on to 21st century retail strategies and are taking more and more advantage of their knowledge...According to consumers, that 59% of 2017s average anticipated spend has been predominantly budgeted for clothing, shoes (athletic and dress), books and study aids."

For the BTS season so far, apparel purchases are up about 3%, tablets/smartphone purchases are up about 10%, and books/study aids are up 5%. But, what is even more interesting is that this season has shown that online shopping/research has become a kind of default starting point for most shoppers. Nearly all (99%) shoppers surveyed said they used online sites for both early season and late season shopping.

For merchants and brands heading into the holiday shopping season, this is a clear indicator to clean up ecommerce sites, and push more marketing dollars into the ecommerce experience being offered.

Another interesting finding is that value is now trumping price.

"Value, of course, isn't just about pricing, it's about brand differentiation and brand engagement," said Passikoff. "Retail brands that can emotionally engage consumers are seen as surrogates for added-value and those will be the brands that benefit most over the three-and- a-half months that now make up the back-to-school marketplace."

Tags: back to school spend, Brand Keys, ecommerce, ecommerce trends

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.