The tax free shopping weekend during back to school is a Texas tradition dating back to 1999. This year, digital is influencing consumer back to school buying trends more than ever. Some key takeaways include:
- A few, high-priced items will generate the most in sales dollars for retailers. College spending is big business – likely accounting for about 60 percent of the total back-to-school revenue for retailers. Much of this comes from higher ticket items, such as dorm and apartment bedding and furniture, computer accessories, laptops and televisions.
- Families spend the most money on clothes. For many families, school clothing and shoes are their biggest categories for spending. This will take up between 55 and 85 percent of total budgets. While always popular, trendy sneakers are having a fashion ‘moment’, so many will have this at the top of the shopping list.
- This time of year is busy. Most schools start before Labor Day, so for retailers, the bulk of the spending is happening now – in the first two weeks of August, with the majority wrapping up their shopping by the end of August.
- Retail back-to-school spending will be good. The economy and consumer confidence is strong, so retail spending will likely be at least the same as last year.
- Retailers have to think beyond their brick-and-mortar locations to make sales. Word of mouth and digital recommendations from friends, online product reviews and emails from favorite retailers now have a huge role in consumers’ final buying decisions. People have come to trust and value digital product reviews,which save time and money by avoiding incorrect purchases.
Maria Halkias at the Dallas Morning News explains more about the tax free holiday and allowed my to add a few thoughts.