Promotional Strategies to Win Shoppers during the Back-to-School Retail Season
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Learn how to amplify your marketing campaigns and best connect with your consumers during the second largest consumer spending period of the year.
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Promotional Strategies to Win Shoppers during the Back-to-School Retail Season
- 1. © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.
- 2. © 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
- 3. 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
- 4. Source: NRF 2013 What’s at stake? © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.
- 5. 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
- 6. 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
- 7. 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
- 8. 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.
- 9. What influences consumers to purchase? © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.
- 10. Economy © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: NRF 2013
- 11. Promotions and Discounts © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: NRF 2013
- 12. Mobile © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: Deloitte Digital 2014
- 13. 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
- 14. © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: BzzAgent 2012 Social Media
- 15. 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.
- 16. Strategies to optimize your BTS campaigns © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.
- 17. Make it mobile © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved. Source: eMarketer 2013, Deloitte 2013
- 18. 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
- 19. 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
- 20. 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
- 21. 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.
- 22. 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.
- 23. 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!
- 24. 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.
- 25. ThankYou www.RevTrax.com | contact@RevTrax.com © RevTrax 2014. Confidential and proprietary property of RevTrax. All rights reserved.
Notas del editor
- 21% of consumers plan to use social media in their back to school shopping. Among those surveyed by Deloitte, they’d use them to… Read reviews and recommendations up to 67%
- Importance of the brand advocate! Brand advocates are key drivers in amplifying your digital marketing campaigns through their social networks. Variety of demographics that share coupons social – for example…
- Can’t stress the importance of mobile enough Ensure campaigns are mobile-friendly, and promotions are mobile-optimized websites so BTS shopping experiences are seamless. 65% of smartphone owners used their mobile for back to school shopping (Deloitte, 2013)
- All campaigns need to be built with mobile devices in mind Many of our clients, especially our brand clients – can not support national mobile coupons This does not mean that mobile experiences should be ignored Any campaign with RevTrax can and should incorporate a mobile landing page
- In addition, every campaign should incorporate save for later/send to self functions via email and text Given that, you should make every attempt possible to leverage the intent of your visitor so that it ultimately converts into a sale. Research indicates that the redemption rate for mobile coupons is 10X that of traditional coupons – http://www.mmaglobal.com/files/mmaglobal.com/file/MobileMarketingRoadmap.pdf Smartphone coupon users is forecasted at 53.2 million in 2014. Smartphones let users access deals on the go and have the capability to serve coupons that are highly relevant based on location, behavior and timeliness. - See more at: http://www.emarketer.com/Article/Mobile-Spurs-Digital-Coupon-User-Growth/1009639#sthash.Xb60ie6R.dpuf