The COVID-19 pandemic has driven Bed Bath & Beyond to adopt and advance initiatives quicker than it ever intended. However, that has helped the retailer boost its proficiency in developing and applying data and exercising its operational flexibility in application in ways that the company expects has better prepared it to thrive in the year ahead.
back to school
Everyday necessities and electronics have gotten a pandemic boost, and according to Placer.ai, that has led to strong rebounds in store visits to Dollar General, Dollar Tree and Best Buy.
“College from Home” is a new Bed Bath & Beyond take on its back to school/college campaign. The retailer is launching the initiative in cooperation with online interior design brand Decorist as a dedicated effort to help parents and their children redesign bedrooms as remote learning spaces.
According to Coresight Research, 8.1% of consumers who plan to spend money on back-to-school this year will spend much more and 20.5% will spend slightly more compared to the buying season in 2019.
In its 2020 Back-to-School and Back-to-College studies, Deloitte determined that, amid financial concerns, back-to-school spending will likely remain flat, reaching a collective $28.1 billion for kindergarten through grade 12 students, or approximately $529 per student.
Promocodes.com surveyed 2,000 American parents as this back-to-school season began, and the deals facilitator asserted that 99.3% of the K to 12 parents surveyed plan to do some kind of back-to-school shopping with the average spend per child at $221.24.
According to consulting firm Deloitte, 2019 back-to-school spending should come in flat to slightly higher versus last year, likely up about 1.8%, with gains largely occurring online.
Amazon has launched its Off-to-College store, which the retailer characterizes as the ultimate destination for college shopping needs, with home decor and housewares playing a key role.
The registry marketplace in recent years has continued to evolve and move beyond key life moments such as weddings and the birth of a baby.
Deloitte, in analysis of its 2018 Back-to-College Survey, has determined that consumer enthusiasm for online back-to-school shopping isn’t shifting toward digital channels in the way it once was.
Consumer spending for the back-to-school/college shopping season is expected to be slightly less than 2017, according to an annual survey from the National Retail Federation and Prosper Insights & Analytics.
With an eye toward the back-to-school selling season, Walmart is launching several new initiatives that the retailer said will ease the shopping experience for parents and students as kids head back to the classroom.