Creator marketing platform LTK released the findings of its 2023 Back to School Shopper Study which found that, despite the weakened U.S. economy, 65 percent of Americans said they will shop during the back-to-school season, with 81 percent planning to spend the same or more than last year, with purchasing decisions driven by price and quality.
LTK’s study also found that more U.S. consumers now turn to influencers for help deciding what brand to purchase, as most (63 percent) shop according to an influencer’s recommendations.
Shopper Spending Plans
The study by LTK found that many consumers are preparing for the back-to-school period across generations, with Gen Z leading with 77 percent, followed by 76 percent of Millennials and 74 percent of Gen X.
Back-to-school shopping is also not exclusive to students or parents; 42 percent of Millennials and Gen Xers who shop for their kids also plan to shop for themselves, further fueling the shopping season.
Despite 72 percent of the U.S. population expressing concerns about the economy, 81 percent plan to spend the same or more on back-to-school shopping this year. Among those who plan to maintain or increase their spending are Millennials, who are leading at 85 percent, closely followed by Gen X (83 percent) and Gen Z (71 percent). Compared to 2022, the general population will spend more on four categories—traditional school supplies, electronics, clothes and shoes, and beauty.
Early Bird Shoppers and Popular Categories
Consumers are shopping for back-to-school early this year, with 35 percent starting, up from 31 percent in 2022, and 62 percent of shoppers responding to LTK’s survey that they would start shopping before the end of July.
As Gen Zs head back to college, more than half said they would begin back-to-school shopping in late July through early August. Regarding shopping preferences, 76 percent said they would shop online, while 73 percent would shop in-store.
The most sought-after categories for the 2023 back-to-school season include fashion, shoes, backpacks and lunch boxes, core school supplies, accessories, personal care products, food and beverage, cleaning supplies, electronics, and health and wellness products.
Key Factors In Purchase Decisions
Price and quality are important factors noted in the response by U.S. consumers when making their purchasing decisions, with quality gaining more significance over convenience compared to 2022 trends. Gen Z and Millennials place a higher emphasis on price than the overall U.S. population, with 53 percent intending to compare prices across multiple stores, 40 percent waiting for significant sales events and 31 percent ready to switch brands for better-priced items.
Impact Of Influencers On Shopping Decisions
Influencers significantly impact shopping behaviors, especially among Gen Z consumers. Influencers are 3.5 times more influential to Gen Z than social media ads. Most Gen Z (75 percent) and many Millennials (67 percent) said they base their online purchase decisions based on influencer recommendations. Similar trends can be seen with in-store purchases, with 77 percent of Gen Z and 67 percent of Millennials expressing that they rely on advice from influencers when shopping in physical stores. In addition, 45 percent of Gen Z and 41 percent of Millennials said they follow influencers who share back-to-school content.
*LTK 2023 Back-to-School Shopper Study pulls from data the company collected during a survey it conducted in May 2023 with 1,084 participants, reflective of the U.S. population with 97 percent confidence.
