The average family will spend $670 this back-to-school season, with a 19% increase in spending on school supplies.
San Francisco, CA (PRWEB) August 29, 2014
Back-to-school, one of the most profitable seasons for retailers, has finally arrived. With this year’s total expected expenditure of $75 billion, retailers carrying back-to-school products have an opportunity to increase sales and profit. Retailers still have time to capitalize on these customers because 54% expect to finish their back-to-school shopping less than a month before school starts.
The National Retail Federation predicts that the average family will spend $670 this back-to-school season, with a 19% increase in spending on school supplies. Fashion retailers will also experience significant boosts in sales this year, as 82% of consumers will purchase clothing and 61% will look for new footwear.
Pricing intelligence is essential for retailers to remain competitive during the back-to-school season. Due to the rise of mobile, shoppers are now constantly equipped to make price comparisons. In addition to optimizing pricing strategies, retailers should bundle products that are often bought together, promote loyalty programs, and more. Bundling is an effective selling strategy that eases a buyer’s shopping experience and has the power to increase average order values for retailers.
Wiser is a leader in the ecommerce industry that provides pricing and merchandising intelligence for online retailers around the world. CEO and Co-founder of Wiser, Arie Shpanya, explains, “Students will assess their purchasing needs for the upcoming school year, and retailers that are able to provide them with the latest trends and technology will see a significant boost in sales.”
Wiser’s new infographic lays out the top six strategies that online retailers can implement to get the most out of back-to-school 2014.
To view the full infographic, visit http://www.wiser.com/infographic-backtoschool.
Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.
Wiser’s flagship product is WisePricer, full-featured dynamic pricing and merchandising engine that monitors, analyzes and reprices retail products in real-time. WisePricer enables retailers to boost profit margins and revenue, price with confidence, and improve merchandising through powering the development of a sound pricing strategy.
Wiser also offers a MAP monitoring solution, WiseMapper, for brands and manufacturers to monitor and protect their pricing across the thousands of retailers selling their products.
For more information on Wiser and WisePricer, please visit http://www.wiser.com/wisepricer.