Market researcher Numerator said Amazon and Walmart were the leading retailers for back-to-college shoppers, with each retailer gaining share of back-to-college spending in 2023 versus 2022.
As to back-to-college spending share, Walmart leads with 26.9%, up 1.8 points year over year; Amazon, at 19%, up 2.8 points; Target, at 12.4%, down 3.2 points; Costco, at 11.5%, up 0.8%; and Sam’s Club, at 5.1%, up 0.4%.
The top reasons for choosing a retailer included good selection, cited by 51% of student shoppers and 57% of parent shoppers; and competitive prices, cited by 43% of student shoppers and 60% of parent shoppers.
According to Numerator, 48% of student consumers had planned to shop at Bed Bath & Beyond stores before they were closed ahead of Overstock’s relaunch of the Bed Bath & Beyond brand online.
By mid-August, 71% of student shoppers were almost done with their shopping versus 54% of parent shoppers. New students were most likely to get an early start on back-to-college shopping, with 44% saying they started shopping in June.
Among parent shoppers, 65% shared decision making with their student children, while 24% made final purchase decisions themselves. However, 65% of student shoppers had sole payment responsibility for their back-to-college purchases this year, according to Numerator.
Parents had larger back-to-college budgets than student shoppers, with 38% of parents budgeting more than $300. In the end, 57% of student shoppers and 56% of parent shoppers spent the same or more on back-to-college purchases this year versus 2022. Preferred promotional offers for back-to-college shoppers included percent-off-total purchase and buy-one-get-one deals.
