As a major office store so accurately suggested in a TV ad a few years ago, it's back to school season … the most wonderful time of year for parents everywhere.
But before the kids are back on the bus, crowded into classrooms and discovering all new reasons to whine and complain, parents have to engage in the annual ritual of back-to-school shopping.
While many parents look at back-to-school shopping as rituals in frustration, they are important drivers of revenue for companies and brands. According to the National Retail Federation’s 2014 Back-to-School Survey, the average family with children in grades kindergarten through 12th grade will spend more than $669 on apparel, shoes, supplies and electronics, up 5 percent from the nearly $635 average last year.
Total spending on back to school will drop slightly to $26.5 billion because the survey found there are slightly fewer students in households this summer.
So what do marketers need to know?