Back-to-school shopping is one of the events that many retailers look forward to. During this time, sales are going up because parents always make sure that they have money set aside for the needs of their school-aged children.
It is estimated that parents spend as much as $900 a year on school-related items for every student in their household. The $900 is spent for school supplies, clothes, shoes and books. Every year, almost 7 million students prepare to go back to school. If you multiply those numbers, the result is an astounding amount of money spent during each back-to-school season.
For decades, parents would flock to the malls during flash sales and the result was pure chaos. Too many people shouting, scrambling to get supplies and more often than not, some end up fighting over a small item. Luckily, with internet, back-to-school shopping has changed dramatically. Parents and students alike can now choose school supplies and back-to-school items through online stores. This makes shopping easier for families and profits greater for retailers.
Associating your business and inventory to the back-to-school rush can mean big bucks. However, like Black Friday or Cyber Monday, back-to-school shopping is something that business owners should strategically plan. With the right strategy, you too can get your piece of the billions spent. Are you ready to get your share of sales?