To seize a lucrative share of the projected back-to-school spend, retailers resorted to introducing promo for the school-related assortment. As a result, the maximum product share on promo in 2021 reached the 94.2% mark at the beginning of the season, and 91,1% of products at minimum went off at a discounted price as the back-to-school shopping season was in full swing.
Versatile as it can only be, the 'back-to-school' product category differed from competitor to competitor. Yet, the study revealed the most common sub-categories and the assortment share that retailers have in common for a particular sub-category. Let's review in detail:
Discount amount and frequency
As we have already found out, discounts have been an integral part of this shopping season. But what kind of discounts are referred to here and how often were they applied? Statistics showed that 10% was the most frequent price reduction applied daily to 22 products (on average) by retailers.
The 20% discount comes next in the popularity chart with 19 products offered to buyers. And 40% wraps up the top-3 chart as it was applied to 12 products in a retailer's back-to-school portfolio daily.
While 10%, 20%, and 40% discounts were overwhelmingly flooding the shelves, there were some absolute winners among the promo offers: Erich Krause Classic Pen 3pc sold out with an 83% discount and 12-sheet school notebook at a price reduced by 93%.
And the top three products with the minimum price were:
- 12-sheets A5 Notebook - $0,012
- Erich Krause Ballpoint pen automatic blue 0.7mm - $0,035
- IQ 3D Puzzle "Bear with flowers" - $0,2
Unlike the above-mentioned two items, the following products went off at the most limited discount during the shopping season: Hatber Eco Notebook and Coloring board #1(8 sheets, 8 colors) were appealing to buyers with a 3% discount each.
The TOP 3 high-priced products in retailers' "Back-To-School" category were:
- Herlitz Flexi Formula Plus Backpack - $213,04
- Lego Friends Heartlake City Hair Salon - $189,37
- Polini Kids Simple Bed - $137.39
Back-to-school promos: 2020 vs. 2021
Just as any hot season in retail, this year's back-to-school didn't go without extensive promos. Retailers, armed up with the projections on the increased demand and shoppers' appetite, were up and doing to craft the most appealing offers and get a good share of the projected shopping spend. To get the full picture of how diligently they pursued sales, let's review the numbers presenting retailers' back-to-school assortment on promo:
This year's back-to-school season has been especially ripe in retail opportunities. With the projected $37.1B in total spending on class-related products, retailers were up and doing to craft attractive promo offers and seize a share of the intended spend.
Traditionally, it didn't go without ripe discounts and irresistible promo offers, which in some cases reached 93% and 83%. However, compared to 2020, this season's dynamics and timeline broke the traditional pattern, thus giving retailers another reason to rethink their traditional approaches to procurement, assortment planning, and merchandising.