Strategy July 18, 2017
Ace The Back-To-School Market
A show of hands: Did you know back-to-school spending is the second biggest shopping season for retailers after the winter holidays? Extra credit if you also know education has been the top market buying promotional products three years in a row* and shows no signs of slowing down.
Parents shell out serious bucks to get their kids outfitted and equipped for a new school year. Last year, the National Retail Federation (NRF) projected total spending for K-12 and college in 2016 would reach $75.8 billion, up from $68 billion the prior year. The retail trade association also reports that the average family with children in kindergarten through 12th grade finish about half of their shopping by early August.
That means now’s the ideal time to start brainstorming creative ways to score a seat in the lucrative student section. John H. Gilbert, owner of Nashville, TN-based distributorship John H. Gilbert Sales Co., says schools are looking at apparel and product selections and placing orders for August delivery. Here are six things you need to know to get a jump-start on the school year and pass with flying colors.
TOP SELLING CATEGORIES
School supplies, clothing and accessories lead the pack when it comes to back-to- school spending. School shoes, an annual shopping ritual for students, was expected to top $5 billion in sales last summer, according to NRF’s calculations. Socks are a natural fit as a back-to-school promotional item. Why? They’ve stepped up from being a commodity item and have become a trendy and fun fashion statement. Socks can be customized in a wide range of distinctive designs, including with school colors and logos, providing additional marketing.
THINK GREEK
Fraternities and sororities are big buyers of promotional merchandise, such as T-shirts and promotional socks. Recruitment and initiation events, social calendars jammed with fun themed parties, formals and holiday events, and philanthropic initiatives provide ample opportunities for distributors to include “ABB” (anything but boring) socks into the regular rotation of promotional product ideas. No Sweat’s 4-350C tube sock is popular with sororities. The old-school style provides a classic look the girls like to pair with short shorts and a tank top, Fulp says.
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*Source: ASI Counselor State of the Industry survey