{"id":21419,"date":"2024-08-06T21:03:33","date_gmt":"2024-08-06T21:03:33","guid":{"rendered":"https:\/\/mysourcefunding.com\/?p=21419"},"modified":"2024-08-06T21:03:34","modified_gmt":"2024-08-06T21:03:34","slug":"price-beats-brand-loyalty-with-back-to-school-shoppers-report-says","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=21419","title":{"rendered":"Price beats brand loyalty with back-to-school shoppers, report says"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"style__InlineSubscribeWrapper-sc-13447495-1 hQuTLW inline-subscribe\">\n<div class=\"style__Container-sc-6fdcc87e-0 style__RoundedContainer-sc-fdc976c-0 iTWzCH dtoEFc\">\n<h5 class=\"dist__StyledText-sc-90cce694-12 hqfIap inline-subscribe\">Get marketing news you&#8217;ll actually want to read<\/h5>\n<p class=\"dist__StyledText-sc-90cce694-12 htlyFZ inline-subscribe\">Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.<\/p>\n<\/div>\n<\/div>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\">This back-to-school shopping season, it seems some parents are questioning where their loyalty lies. Brand loyalty, that is.<\/p>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\">Majorities of parents said they\u2019d choose affordability over their preferred brand or retailer while shopping for back-to-school supplies, according to a survey of about 1,200 parents of school-aged children conducted by Deloitte from May 22 to May 30.<\/p>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\">But with the value of the $31.3 billion back-to-school shopping sales market holding fairly steady compared to last year, there are still opportunities for brands to create trust and loyalty among shoppers, Deloitte researchers, execs, and analysts wrote in its 17th annual back-to-school survey.<\/p>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\"><strong>Bargain hunting: <\/strong>This year\u2019s back-to-school shoppers are prioritizing value, per the report. For instance, they\u2019re shopping earlier to secure the best deals, switching to private labels, and spreading their spending across more retail formats:<\/p>\n<ul>\n<li>As of May, 66% of back-to-school budgets were expected to be spent in July, compared to 59% last year, according to Deloitte.<\/li>\n<li>Half of survey respondents said they\u2019ll buy private labels versus name brands, compared to 36% in 2023.<\/li>\n<li>Parents are also shopping across more destinations\u2014an average of 4.7 formats, up from 3.9 last year. Online retailers and department stores are among the top options.<\/li>\n<\/ul>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\">With 62% of parents looking to stick to their fixed budgets, brand loyalty is at risk, Deloitte found: 67% said they\u2019d buy a different brand if their preferred option was expensive, and 62% said they\u2019d shop at a more affordable retailer over their preferred choices.<\/p>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\"><strong>Value add: <\/strong>Still, loyalty programs and incentives can help keep people shopping, as can a few other tactics, according to the report, like a time-honored child\u2019s, \u201cPleeeeeeeeeease.\u201d Many parents aren\u2019t immune to the charms of their children, even when they\u2019re on a budget:<\/p>\n<ul>\n<li>Deloitte found that 85% of respondents said their children could influence them to spend on their \u201cmust-have\u201d back-to-school brands or products.<\/li>\n<li>Additionally, 62% said their children\u2019s preferences tend to convince them to spend more money.<\/li>\n<\/ul>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\">\u201cBy creating a fun and memorable shopping experience for children, retailers could increase their appeal to parents and encourage impulse purchases,\u201d the authors wrote. That could include the online experience, too, with one-third (33%) of back-to-school shoppers planning to use social, up from 21% last year.<\/p>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\"><strong>School splurge: <\/strong>Parents are mostly splurging on back-to-school items to make the transition back to classes more exciting for their kids and to boost their confidence, per Deloitte.<\/p>\n<p class=\"dist__StyledText-sc-90cce694-12 gOnUsl\">Social media shoppers are even more likely than the general group to spurge: 95% said they could be influenced to do so, compared to 81% of others. But, they\u2019re also less focused on brand names, with 59% likely to buy private labels over name brands, compared to 46% of others.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketingbrew.com\/stories\/2024\/08\/06\/price-brand-loyalty-back-to-school-shoppers-report?utm_source=&#038;utm_medium=syndication&#038;utm_campaign=feed\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get marketing news you&#8217;ll actually want to read Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides. This back-to-school shopping season, it seems some parents are questioning where their loyalty lies. Brand loyalty, that is. Majorities of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-21419","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Price beats brand loyalty with back-to-school shoppers, report says | Brandiary<\/title>\n<meta name=\"description\" content=\"Get marketing news you&#039;ll actually want to readMarketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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