Promotional Strategies to Win Shoppers during the Back-to-School Retail Season

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Information about Promotional Strategies to Win Shoppers during the Back-to-School Retail...
Marketing

Published on May 29, 2014

Author: RevTrax

Source: slideshare.net

Description

Learn how to amplify your marketing campaigns and best connect with your consumers during the second largest consumer spending period of the year.

© RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

© RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.  The Back to School/Back to College Retail Landscape  Purchase trends  Behavioral influences  Strategies to capture BTS/BTC share of wallet  Questions

A history of BTS/BTC spending $- $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Back to School and Back to College Average Spending by Year Back to School Back to College © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: NRF 2013 -20% -7% Y/Y % Change

Source: NRF 2013 What’s at stake? © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

What are consumers buying this season? $230.85 Clothing and accessories 36.4% $114.39 Shoes 18.0% $90.49 School supplies 14.3% $199.05 Computers, cellphones, tablets, etc… 31.4% Families with School-Age Children Total Spending: $634.78 $122.70 Clothing & accessories 14.7% $65.60 Shoes 7.8% $62.92 School supplies 7.5% $203.28 Computers, cellphones, tablets, etc… 24.3% $274.28 Dorm Furnishings, food, & personal care 32.8% $108.06 Other 12.9% College Students and Their Families Total Spending: $836.84 © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: NRF 2013

Where are consumers shopping? 0% 20% 40% 60% 80% 100% Discount/value department stores Office supply/technology stores Online sites Specialty clothing stores Dollar stores Traditional department stores Off-price stores Drug stores 2009 2010 2011 2012 2013 © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: Deloitte 2013 +19 pp since 2009

Shoppers start consuming BTS/BTC content as early as June Are you ready? © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: Outbrain 2013, NRF 2013

 The Back to School/Back to College Retail Landscape  Purchase trends  Behavioral influences  Strategies to capture BTS/BTC share of wallet  Questions © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

What influences consumers to purchase? © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

Economy © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: NRF 2013

Promotions and Discounts © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: NRF 2013

Mobile © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: Deloitte Digital 2014

Social Media 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% To find out about promotions To read reviews and recommendations To browse products To visit retailers' pages on social networking sites To post comments, reviews, or feedback to retailers or other consumers To post to or view virtual image boards To watch a retail/product video 21% of consumers use social media for Back to School shopping. Among those surveyed by Deloitte in 2013, they use social media to… 2010 2011 2012 2013 © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: Deloitte 2013 +28 pp since 2010

© RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: BzzAgent 2012 Social Media

 The Back to School/Back to College Retail Landscape  Purchase trends  Behavioral influences  Strategies to capture BTS/BTC share of wallet  Questions © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

Strategies to optimize your BTS campaigns © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

Make it mobile © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: eMarketer 2013, Deloitte 2013

Make it mobile © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Create a mobile experience for all offers and promotions, even if mobile redemption is not available Promotions with mobile landing pages see, on average, a 56% increase in offer engagement

Incorporate save for later features into mobile landing pages for on-the-go parents Make it mobile © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: MMA 2013 70% of all mobile searches result in an action with an hour v. 30% of desktop searches

Make it smart © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Create unique experiences for both BTS and BTC shoppers Back to School Targeted OffersBack to College Targeted Offers

Make it socialMake it social Encourage your brand advocates to share offers and deals with friends and family © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

Make it engaging © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: Forrester 2014 Interact with consumers throughout the duration of their path to purchase While in store picking up their items, 37% of consumers usually purchase other products as well.

Make it timely © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. While consumers will start early, it is never to late to adjust strategies!

 The Back to School/Back to College Retail Landscape  Purchase trends  Behavioral influences  Strategies to capture BTS/BTC share of wallet  Questions © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

ThankYou www.RevTrax.com | contact@RevTrax.com © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.

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