The National Retail Federation reports that the market for back-to-school shopping will reach upwards of $27 billion this year and college spending will raise that total to over $83 billion, making it the second-biggest shopping season of the year.
NRF conducted a flash poll of 468 back-to-school and back-to-college shoppers, and discovered that an increase in spending for the upcoming school year is occurring. That’s good news for all retailers, as the increase in traffic can lead to more visits at their businesses as well.
According to the NRF’s findings, nearly 45% of those spending on back-to-school shopping will visit retailers in-store, meaning they will be out and about. Retail bakeries and bakery cafés can stand to gain from this as well. Shoppers need to eat after all, and this may cause a customer increase for those businesses.
Retail bakeries can look to market themselves during this time of year by running back-to-school specials or offering products that reflect the season. Almost one quarter of all back-to-school shoppers will do so during the 1-2 weeks prior to the start of the school year, so now is a good time to take advantage of the increased spending.