The Lean: Retail Insights Brief
Although there are several ongoing economic challenges impacting consumer spending, back-to-school shopping is predicted to be up from July 14 through September 5, compared to last year. These modest gains are generating some positive increases for several brands. Retail categories such as party supplies, apparel, and health & beauty saw substantial visitation gains between May and July. But as we all know, shoppers are being much more frugal with their spending this year as they focus on getting more bang for their buck. So it may not be surprising that discount brands are also experiencing an uptick in foot traffic and sales.
For marketers, understanding how customers modify their spending and shopping behaviors during economic instability is paramount to developing a marketing strategy that keeps their loyal customers engaged and, more importantly, providing them with options that fit their budget.
In this issue of the Retail Lean: Volume 2, we spotlight key visitation trends that reveal which audiences are likely to be spending during the Back-to-School (BTS) shopping season and how consumers modify their spending and shopping behaviors. Also, we look at the retail sectors and brands that have been able to grow their share of visitation despite the decrease in consumer spending.
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About the Lean:
Between professional careers and personal lives, we understand that there is very little time left to read drawn out white papers. This is why we created The Lean — meaningful marketing insights that help brands make strategic decisions about their marketing campaigns. Specifically designed for easy consumption and quick reference, each issue of The Lean applies offline behavioral data filters and other industry sources to current consumer trends to help understand the impact they are having on business outcomes such as visits and sales. GroundTruth data is sourced from the 30 billion annual global visits observed on its platform. All data is anonymized and aggregated.
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