Observation on Consumption during the Opening Season
From July to September, the United States entered the second highest sales season of the year - the opening season, parents from different regions are actively purchasing for the opening season. Although the inflation rate in the United States is still at a high level, consumers' enthusiasm for shopping during the start of the school season remains undiminished.
According to the July US retail sales data released by the US Department of Commerce, the consumption of non durable goods such as food and beverage stores (+0.8%), clothing and accessories (+1.0%), and hobbies such as sports and music (+1.5%) during the opening season has significantly rebounded compared to June, making it the biggest highlight of July's retail data. A recent survey conducted by research firm JLL on parents of over 1000 American school-age children showed that American households will spend 15.7% more in the first quarter of this year compared to last year, which is much higher than the 4.9% year-on-year inflation rate and has a positive impact on retail sales.
Focusing on the opening season, what do American parents and students buy? Where can I buy it? What factors will affect their purchasing decisions? Let's take a look at more data together.
What to buy for the new semester?
According to Deloitte's opening season shopping survey, differentiated by student type, data shows that in recent years, families of primary and secondary school students have mainly purchased clothing, school supplies, computers&hardware, electronic products, as well as the newly added popular category of "home/health products" due to the epidemic.
For college student families, there are more categories on the purchase list, with different proportions, ranging from high to low: school supplies, computers and hardware, clothing, home appliances, dormitory/apartment furniture, and electronic products.
Clothing and school supplies are traditional consumer necessities that require periodic repeated purchases, thus occupying the top of the consumption list for a long time, but the consumption amount has decreased. And computers, hardware, and electronic products are the two major categories of products that continue to maintain consumption growth during the opening season.
This is not surprising! Electronic products provide tremendous help and convenience for students' learning, entertainment, and even social interaction. Students of any age group, without exception, gain knowledge growth and a pleasant mood through PCs and electronic products. As individuals age, experience, and have a longer history of exposure to such products, the frequency and duration of their use of these products gradually increase. It can be foreseen that these two types of products will perform even better on the consumption chart at the beginning of next year's school season!
However, are there any other hidden growth star products?
Some parents, as well as smart students, have discovered that using a PC or electronic product alone does not result in a poor viewing or touch experience. Moreover, prolonged head lowering can lead to neck and back pain, physical stiffness, and even decreased vision and hunchback. In order to help improve these issues, they often purchase some bracket accessories to make viewing and operation more comfortable.
This has given rise to another hot selling category - "bracket accessories for PC and electronic products". This is a bonus product attached to the PC and electronic product categories, which has evolved into various styles, functions, materials, and models in just a few years.
Where can I buy it during the opening season?
A survey from JLL shows that 24.1% of parents prioritize free delivery when shopping online, rather than paying for it. As last year, WalMart is still the preferred destination for American parents to shop, accounting for 58.6%, followed by Target (54.2%) and Amazon (46%). This may be related to the fact that these retailers can provide consumers with affordable product prices.
Where can I buy it during the opening season?
A survey from JLL shows that 24.1% of parents prioritize free delivery when shopping online, rather than paying for it. As last year, Wal Mart is still the preferred destination for American parents to shop, accounting for 58.6%, followed by Target (54.2%) and Amazon (46%). This may be related to the fact that these retailers can provide consumers with affordable product prices.