In a crowded school supply marketplace where consumers shop in-store and online, brands are trying many approaches to stand out from the competition. The most successful brands recognize the potential of omnichannel experiences in maximizing back-to-school sales.
By seamlessly integrating online and offline channels, these brands create a cohesive, personalized shopping journey that engages consumers and drives conversions. Maintaining band consistency across retailers builds consumer trust.
Over 80 percent of consumers expect a similar content experience wherever they interact with a brand. And of those, 55 percent consider a minimum of four products, and 36 percent browse at least four websites before filling their online shopping cart.
Several factors influence which brands and products back-to-school shoppers purchase, including:
- in-store promotions (76 percent);
- sales and coupons (59 percent);
- store media advertisements (34 percent);
- in-store digital display advertisements (27 percent);
- in-store mobile advertisements (22 percent); and
- retail mobile app recommendations (15 percent).
By delivering consistent content across all omnichannel touchpoints, brands enhance customer loyalty, reduce returns, drive conversions, grow profits and increase their position in the competitive back-to-school market.
Here are some strategies to earn an “A+” from customers:
Majoring in Product Content Orchestration
One effective way to create omnichannel consumer experiences during the back-to-school shopping season involves channeling the power of product content orchestration. This strategy harmonizes all the elements of product content, assets, systems and people for successful omnichannel selling.
With inflation hitting wallets hard this year and back-to-school spending expected to surpass $41 billion, consumers are searching for the best deals. The average family anticipates spending nearly $900 on college and school supplies in 2023. Content orchestration will help brands capture a portion of that revenue.
Over 90 percent of consumers are heading to Target, Walmart and other big-box stores to purchase school supplies. More than 40 percent of these savvy shoppers frequent websites and brick-and-mortar stores. Brands and big-box stores with a huge online presence can leverage item locators, predictive analytics, product availability and product bundling to drive online and in-store purchasing decisions.
A content orchestration platform enables brands to meticulously curate, disseminate and manage content across all sales channels. This innovative product content management approach seamlessly unifies marketing, product and technical data in a centralized hub.
Cutting-edge platforms include a full digital asset management system that connects smoothly to other systems, including product information management (PIM) systems. Guided by channel-specific rules or criteria, these content orchestration platforms automatically share updates across all channels and downstream systems to increase accuracy and elevate efficiency.
Achieve Straight A’s With a Robust Omnichannel Retail Strategy
After implementing a product content management platform, brands should leverage the following elements to build an effective omnichannel retail strategy:
Predictive Analytics
Brands can use this powerful tool to forecast future outcomes and trends based on historical data and advanced statistical techniques. Predictive analytics enables retailers to make informed decisions and design strategies that:
- cater to customer preferences;
- optimize inventory management;
- enhance marketing efforts; and
- improve overall customer experiences across various channels.
Brands can use these analytics to boost customer lifetime value by identifying and introducing consumers to products they might use in the future. For example, a parent might receive targeted emails in mid-spring suggesting end-of-year teacher gifts, see marketing content in late-spring featuring kid summer activity ideas, and get ads for back-to-school supplies in mid-summer.
Predictive analytics used to inform omnichannel retail strategies empower brands to make data-driven decisions optimizing inventory, marketing efforts, pricing and customer experiences. The data enhances operational efficiency and increases revenue by creating a more seamless, satisfying shopping journey for consumers across all channels.
Product Bundling
Another strategy for increasing sales and boosting revenue, product bundling pairs two or more similar products as a package deal at a single price point. This approach allows businesses to create the perception of greater value and encourages customers to purchase more items than originally intended.
For example, a consumer might have a computer or five-subject notebook in their shopping cart. A brand could offer additional items that pair well with the computer (like a wireless mouse, adapter and headphones) or the notebook (like pencils, eraser caps, highlighters and pens).
Product bundling enables retailers to offer discounts, which benefit consumers and brands. Shoppers save money while brands capitalize on seasonality (like back-to-school) and the opportunity to move excess inventory.
Brands can also incentivize bundles, structuring them to encourage customers to upgrade to higher-tier products. Offering bundles with a basic product plus premium add-ons may entice customers to choose the higher-priced bundle for added value.
Almost 60 percent of consumers like bundling, saying it helps them find compatible accessories, and nearly 55 percent say bundling introduces them to new brands. Bundles also simplify the decision-making process — everything consumers need is included, saving time and reducing decision fatigue.
Unique, creative bundles can set brands apart from the competition. Offering exclusive or innovative combinations attracts attention and creates a distinct brand identity.
Product Availability and Locator Tools
These tools play a crucial role in brands’ abilities to deliver a seamless omnichannel shopping experience from the internet to brick-and-mortar stores. Knowing product availability in real time enables consumers to see if an item is in stock before heading to the store. The item locator empowers consumers to walk in and quickly find what they need.
With 41 percent of consumers shopping online and in-person for school supplies, they welcome anything brands can do to make the process easier. Product availability and locator tools offer incredible value, helping consumers:
- save time and reduce frustration with real-time information;
- plan and research shopping trips more effectively based on specific product availability;
- combine the convenience of online shopping with the immediacy of in-store pickup with click-and-collect options; and
- see which local stores have promotions, discounts or special offers.
Make the Honor Roll With Consistency
Today’s consumers engage with brands across myriad channels rather than sticking to a single platform. Shopping’s traditional confines have expanded beyond physical stores, as consumers now reference their smartphones a staggering 49 percent of the time to conduct more research, read reviews, locate items in-store, compare prices and more. Consumers use all tools at their disposal to thoroughly understand products before buying because they want to feel confident they’ve made the best choice.
Back-to-school shoppers want information about product function and features, prices and value, quality and reliability. They’re interested in brands and their reputations. Brands delivering consistent messaging — and a consistent omnichannel strategy — meet customers where they are and shape shopping engagement and behaviors while driving purchase decisions.
Steve Sivitter is the CEO of 1WorldSync, a leading provider of product content solutions.
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