There's an interesting report out from Deloitte on 'Back to School' spending habits - lots of interesting nuggets on data security and digital interactions via smart phones. What really intrigued me was one statistic showing an increased number of parents leaving some purchases to after the start of term.
31% of parents will finish the 'Back To School' Shop after term has started (rising from 26% last year)
I have to confess here to being Captain Clipboard myself when it comes to pre-term planning. With over a quarter of parents showing much more of a relaxed attitude, I am keen to wonder why they are confident enough to leave things until term has started?
I guess the answer is that retailers are getting it right.
Trust that retailers will meet consumer needs as and when they need to be met is increasing. There is more confidence that retailers will deliver for our families. So we are confidently buying 'Just In Time' with our needs being met accordingly.
I think this is a really interesting shift, driven perhaps by the confidence we have in online retail. Meaning we can shop 'Just In Time' when retailers are sophisticated enough to offer better availability and deliver in this way. More broadly, this trend will impact a lot of seasonal retailing - creating perhaps bigger, steeper spikes when we consider other key events like Valentine's and Christmas. For consumers it is good news.
For retailers, they will need to either have better insights into consumer behaviour or alternatively, they could just hold their nerve and gamble....
indings include: Parents’ average spending is expected to remain relatively flat, increasing only $5 to $375 this year. Among smart phone owners, 8 in 10 (80 percent) will use them to shop for back-to-school items–an increase of 6 percentage points over 2014. More than two-thirds (68 percent) of consumers are concerned about their personal data security when shopping online, compared with 50 percent shopping in brick-and-mortar stores.