Inmar Intelligence, a leading applied data platform company, today published findings from its 2022 Back-to-School Survey, which found that 50 percent of consumers will shop earlier due to inflation and price increases.
The survey also found that 75 percent of shoppers have already noticed a price increase when it comes to back-to-school essentials and 65 percent of shoppers will change how they shop in response to those price increases. This will cause retailers and brands to change how they engage with shoppers to increase their share of wallet as 66 percent of survey respondents said they will search for promotions ahead of their back-to-school shopping.
Some additional key findings:
- 55 percent consider coupons, rebates, promotions and/or discounts to be of above average or extreme importance when considering back-to-school food purchases
- 40 percent of respondents will adopt a hybrid physical-and-online model to complete their back-to-school shopping
- Compared to 2021, 25 percent less people will shop in store for back-to-school products
“While back-to-school shoppers still plan to spend this season, this data shows that they are hyper focused on extending the value of their dollars,” said Aaron Kechley, Interim President of Inmar’s Martech division. “Brands need to be agile, reacting quickly to shopper demands and providing those savings through the most impactful channels in order to reach consumers. Today’s shopper is navigating the digital and physical aisle interchangeably and with rising prices, convenience and savings will need to flow seamlessly across that omnichannel experience.”
As consumers navigate the complexities of finding the items they need in-stock, at prices that fit their budgets, they will be looking for marketers to help guide their shopping decisions. For example, 35 percent of people will be looking for promotional flyers, coupon books and emails to alert them of savings, while almost 30 percent of consumers will be looking to peers and influencers on social media to find the items they need. Utilizing Inmar’s Retail Cloud, marketers can reach shoppers throughout all of the influential touchpoints, but in a connected and cohesive way using the data and technology in our ShopperSync™CDP.
For more information about how Inmar Intelligence can help optimize savings and convenience for consumers, please download our 2022 Back-to-School Guide.