Advertising Age recently published an insightful article about expected retail sales during the upcoming back-to-school period. The article sites a recent study by the National Retail Federation and BIGInsight that estimates an anticipated 14% increase in spending on clothing and supplies among people who have children in kindergarten through 12th grade.
The article also discusses the effect of the weak economy on consumer confidence, which will impact where consumers will choose to shop. As a result, many consumers plan to do their back-to-school shopping at discount stores. Consumers will also turn to online shopping as a way to comparison shop and find the best deals. According to the article approximately 40% of consumers will do their back-to-school shopping online. Another insight is that consumers will start their shopping earlier in an attempt to spread out their spending over a longer timeframe.
All of these factors mean retailers most likely will be even more aggressive with their promotions in order to gain their share of the back-to-school market.
The back-to-school selling period is particularly important in the licensing industry for children’s properties. Several of our clients including Pinkalicious, The World of Eric Carle, and Annoying Orange have licensed product lines that include backpacks, lunch bags, stationery, apparel and other school supplies available for this upcoming Back-To-School season.