Sixty-eight percent of consumers plan to spend up to $500 this back-to-school shopping season, compared to 63 percent in 2012 and 48 percent in 2011, according to PriceGrabber’s first Back-to-School shopping survey.
Additionally, 17 percent of respondents plan to spend between $500 and $1,000, while 15 percent of shoppers said they have no back-to-school shopping budget this year.
“The outlook for the back-to-school shopping season remains positive. With the unemployment rate dropping from 8.2 percent in June of 2012 to its current rate of 7.6 percent, shoppers are more inclined to spend than they were in the last couple of back-to-school seasons,” said Rojeh Avanesian, senior vice president of marketing and sales of PriceGrabber. “However, instead of spending on the newest gadgets, shoppers are looking for ways to get the most for their money by looking for deals as well as reusing already-owned items before purchasing new ones.”
Consumers are planning to purchase practical items, putting basic school clothing and supplies at the top of their back-to-school shopping lists. Seventy-two percent selected general school supplies such as notebooks, binders and pencils as topping their lists, with 68 percent planning to send their children back to school in style with new clothing. Forty-two percent said they plan to purchase a backpack or tote bag, and 36 percent of shoppers said they plan to purchase books.
Consumers said they plan to save money this year by visiting discount stores (50 percent) and online stores (45 percent). Consumers continue to look for ways to stretch their dollar and take advantage of retailer incentives to save money. According to the survey, 72 percent of consumers chose free shipping as the top retailer tactic that would entice them to make a back-to-school purchase this year. When asked to select all retailer tactics that would encourage them to make a back-to-school shopping purchase, sales came in a close second place with 71 percent of the vote; 69 percent cited coupons; 43 percent selected online promotions; 41 percent noted rebates; and 38 percent selected free items with a purchase.
Fifty percent of consumers plan to start their back-to-school shopping in August; 34 percent plan to start shopping in July; 7 percent noted June; 6 percent cited September, and only 3 percent selected October, according to PriceGrabber.
The research was conducted from June 17 to July 8, 2013, and included responses from 2,191 U.S. online shopping consumers.
