While we can always rely on the back-to-school season to make a splash as the second-largest retail event of the year, the unpredictability keeps us all on our toes.
For B2B retailers, this uncertainty can feel uneasy, but it doesn’t have to. Embracing evolution is key to success. Below, we’ll look at the top retail trends to watch out for, and expert advice on how to lean into the shifts.
Now take out your notepad, class is in session.
In review: The 2023 back-to-school season
In total, the 2023 back-to-school and back-to-college season raked in $135.5 billion for U.S. retailers.
A few notable trends:
- Consumers watched their wallets. Given rising inflation rates, up to 45% of shoppers opted to purchase items on sale.
- Technology took a bite out of budgets. Electronics and computer supplies tended to be the largest expense in average household budgets. However, making a fashion statement is still a priority as clothing, shoes, and accessories were the most popular shopping categories.
- Shoppers swiped their credit cards earlier than ever. More than 56% of consumers started back-to-school shopping in early July thanks to schools and universities distributing supplies lists earlier, and knockout deals on Amazon Prime Day.
And where did all this shopping take place? All over.
Nearly 60% of consumers reported visiting two to three stores before making their final purchases to find the best deals. With thousands of retailers at their fingerprints, 65% of shoppers depended on their smartphones, while 35% headed to social media ads or influencers to help them decide between the best calculator or comforter.
2024 Back-to-school retail trends
Sure enough, back-to-school shopping is already off to a speedy start this year, as many retail competitors, like Target and Walmart, are matching Amazon Prime Day’s early bird energy by kicking off sales an average of two days earlier than the typical season. Attracting early buyers is a game-changer, as Deloitte notes that early shoppers will spend up to 1.5x more than late shoppers.
Now while more than half of Americans have started their shopping, the to-do lists aren’t done just yet, and there are plenty of opportunities for retailers to take advantage of in August and early September.
Due to inflation, consumers will be keeping a closer eye on the price, as NerdWallet reports nearly a third of households are sticking to essentials, and 52% will be shopping for sale items.
Price is the leading factor in most purchase decisions, so it’s not shocking that 82% of shoppers believe that loyalty and rewards programs are influential factors when deciding where they should purchase their back-to-school items.
And a word to the wise, B2B retailers should aim to make these programs as personalized as possible and offer discounts depending on spending habits. With competition coming from every angle, showing customers you care about their preferences will help you stay on their radar.
6 back-to-school tips for retailers
- Forecast demand sooner rather than later
Thinking a few steps ahead is essential in any industry, but for back-to-school season, it’s a necessity. While it takes a few seasonal cycles and learning from rookie mistakes, retailers must get a handle on inventory management for two reasons. Understocking leads to customer dissatisfaction, and overstocking leads to excess inventory that may be challenging to sell.
Turn to your marketing team to gain rich insights on potential product demand, and take account of what’s already in stock. In the long run, this thoughtful pause will save precious time.
By creating space, you can identify slow-moving products, measure your inventory, and de-prioritize non-essential shipments to make way for higher-demand back-to-school items, like classroom cleaning supplies.
- Meet your customers where they are
With online, offline, and social media options for back-to-school shopping, retailers must be prepared for consumers to bop around between channels, especially since price is top of mind this season.
Take an omnichannel approach by integrating sales channels, and offering your products across a variety of mediums. Know exactly where the customer is throughout their buyer journey, and adjust marketing messaging accordingly.
If you’re aware of a specific behavior within a certain demographic audience, switch up your strategy. For instance, if you know your millennial customers prefer to shop in-store vs. online, create and communicate specialized discounts at your brick-and-mortar location, or partner with large retailers to provide an in-person deal.
Plus, you can offer a few buying options that merge the best of both online and offline worlds, such as curbside pickup.
- Know your audience and segment
Speaking of the audience, know where they are, what they like, and how they shop. A tall order for sure, but not impossible with the data insights available today. While there will be overlap, parents, teachers, and students are all likely looking for different items.
Work with your marketing team to appropriately segment your audiences by age, interests, and previous buying behaviors. From there, you can personalize your paid advertising strategies to get the right message to the right individual.
As noted above, 35% of online back-to-school shoppers will be scrolling social media to find products and deals. While you can likely find Gen Z gravitating towards TikTok Shop, Facebook is an excellent choice to target 35 to 44-year-old buyers. This is where you can encourage an online purchase or direct them to their local retailer where they can easily find your products.
- Get your retail compliance ducks in a row
In the retail industry, chargebacks can be a huge setback, especially if your back-to-school sales are prompting products to fly off shelves. Even the most organized retailer can get caught up in the madness.
If you often work with industry titans such as Target and Walmart, the best way to avoid pricey chargebacks is by carefully ensuring your retail shipments are in compliance.
This is why it’s crucial to partner with third-party logistics (3PL) supply chain experts who have established relationships with large retailers, can catch the tiny details, and will execute the process seamlessly.
At WSI, we understand unique vendor requirements across all of our retail fulfillment services, which includes labeling, order routing, Electronic Data Interchange (EDI), advanced shipping notices (ASN) and retailer invoicing.
- Create an eye-catching in-store experience
Many consumers are still heading to physical locations to get their shopping done. Often, they’ll opt for a big-box retailer that offers different departments and a wide variety of items.
This being said, presentation is everything. And while customers may not stroll down every aisle, investing in high-quality, eye-catching point-of-purchase (POP) displays can move the needle.
According to the experts at Bonded Logistics, there are four key components to keep top of mind before you start ideating: design, assembly, fulfillment, and distribution.
These components ensure your display stands out in a crowded retail environment, is easy to transport or ship, simple to assemble, and ships out on time. A quick note about design, tap into your creativity by leaning into the back-to-school mood by promoting relevant products in classroom-themed displays, like Kinder’s incredible lookalike school bus POP, packed with snacks students would love to find in their lunchbox.
All of these factors can be easily sorted out with the guidance of a 3PL partner to ensure your POP design meets specific retailer compliance requirements. Or else, your display may collect dust in the warehouse.
- Curate a cohesive unboxing experience
Whether you’re selling online or offline, as soon as your product is in your customer’s hands, things could go one of two ways: They could be delighted or disappointed.
First impressions matter.
Even if a customer returns your product, the packaging materials, color, and condition can unlock brand loyalty. And, it might even go viral on social media if they are inspired to do an unboxing video.
If you choose to use custom-branded packaging, ensure it matches your messaging and identity so customers know it’s yours when they spot it on their front stoop. To make the most of every inch, you can insert additional marketing promotions to encourage repeat purchases or educate them about the product.
Ultimately, a personalized experience reminds them why they made a great purchase decision.
How to master back-to-school fulfillment in 2024
To end the back-to-school season strong, have the right resources ready to get a clear picture of progress and pain points so you can stay agile and adaptable for next year.
The best way to do this? Partnering with a 3PL you trust to unlock a variety of retail fulfillment services including:
- Real-time inventory visibility with top-tier responsive technology.
- Strong shipping carrier relationships, leading to discounted shipping rates.
- A team of retail compliance experts who connect you with valuable vendors.
- Guidance on how to navigate the EDI process seamlessly with big-box customers.
- Retail-ready packaging for custom POP displays to keep your product moving.
- Access to value-added services (VAS) such as personalization, custom packaging, and unique labeling to drive home your brand identity.
At WSI, you’ll gain access to all these benefits and more. While our connections are national, our relationships are personal. We tailor our reliable retail logistics services to your needs so you can efficiently run your business with accurate insights.
Get ready to retail like a pro
As the back-to-school season progresses, we hope these tips have prepared you to align with buying trends to maximize growth opportunities. Once this year’s season comes to a close, take a few of these tips into next semester, also known as the holiday season.
If you have any follow-up questions, raise your hand to speak to one of our retail fulfillment experts. Best of luck!
Marla Rose
Marla Rose Clendenin is a creative writer, editor, and producer who turns ideas into clear, conversational content, particularly for e-commerce retail, beverage, and healthcare brands. She has led content strategies for award-winning digital campaigns and hosted a podcast investigating the intersection of pop culture and marketing. Aside from typing furiously on her laptop, you can catch her at a comedy show or adding new recipes to her amateur food blog.
