What's Happening?
A recent survey conducted by Numerator indicates that 64% of back-to-school shoppers took advantage of summer sales events to purchase school supplies. Amazon Prime Day emerged as the most popular event, followed by Walmart Deals and Target Circle Week. The survey highlights that price is the primary consideration for shoppers, with many employing strategies such as comparing prices, using coupons, and reusing supplies from previous years. The data also shows a preference for in-store shopping, with 57% of respondents planning to shop primarily in physical stores.
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Why It's Important?
The survey underscores the significance of sales events in influencing consumer behavior during the back-to-school season. Retailers benefit from increased foot traffic and sales, while consumers gain access to discounted products. This trend reflects the growing importance of cost-saving measures in consumer decision-making, particularly in the context of rising living expenses. Retailers may need to adapt their strategies to cater to the demand for competitive pricing and promotions.
