Back-to-school spending is crucial for brands like Old Navy, Amazon, and Target, with projections of $128 billion in consumer spending this year. Economic concerns, such as price inflation, have caused 26% of shoppers to plan reduced spending. Brands are leveraging paid media strategies, focusing on short-form video and social media marketing. Companies like Nuuly are seeing growth, aided by a student discount scheme and achieving profitability with a significant subscriber base. This season demands both safe advertising strategies and innovative campaigns to engage consumers effectively.
The late summer back-to-school sales period has long been a vital one for brands like Old Navy, Amazon and Target hoping to capture the high school and college-age dollar.
This year, the National Retail Federation (NRF) calculated that total back-to-school spending by U.S. consumers will reach $128 billion.
26% of back-to-school shoppers expect to cut back their spending this summer, 49% due to price inflation, per a Samsung Ads survey.
Nuuly, owned by Anthropologie and Urban Outfitters parent Urbn, turned its first full year of operating profits this year and boasts well over 300,000 subscribers.
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