Back to School and Beyond: How Brands Can Capitalize on Key Seasonal Moments

Back to school is just one of many key seasonal moments throughout the year when shoppers are particularly attuned to the rewards and promotions brands offer. According to our 2024 back-to-school survey, nearly half of all back-to-school shoppers plan to set a budget, up 6% year over year. To hit their spending goals — without compromising on their shopping list — consumers are on the hunt for great deals. This presents brands with a valuable opportunity to drive incremental sales and win customer loyalty at a time when both are up for grabs. 

In May, Ibotta Chief Marketing Officer Richard Donahue sat down for a Q&A with EMARKETER to share his insights on the back-to-school season and ways brands can capitalize on key seasonal moments throughout the year.

This year, U.S. back-to-school sales will generate $81.16 billion, rising 3.5% YoY — its slowest growth rate in five years, according to EMARKETER’s February 2024 forecast. For brands to secure their share of revenue, they’ll need to engage with consumers looking for value. 

“Times are tight, so parents are going to be keeping a close eye on what they ‘need’ this year for back to school,” said Richard Donahue, chief marketing officer at Ibotta. With prices so high, consumers will focus on buying essentials, trading down on brand names, and even cutting back on how much they buy. 

Here, Donahue shares insights on preparing for the back-to-school season and other key shopping moments.

Q: What opportunities does the back-to-school season present for brands to engage with consumers?

A: The last couple of years in particular have seen prices rise by 20% on food and general merchandise. Consumers are trading down to competitive brands or private labels, or out of categories entirely if it was discretionary or simply too expensive. If brands give the consumer value during back-to-school season, either by making their shopping easier or by helping them stretch their dollar, they will reap the rewards. We’ve seen brands that are offering meaningful deals, leaning in on cash back to drive incremental volume, for example.

Q: How do you see the role of cashback playing into this year’s back-to-school shopping season?

A: It’s so critical this year—savings rates are way down, credit card debt is way up—and parents are looking for ways to mitigate the back-to-school spend. Because of that, you’ll see brands move earlier and lengthen their promotional windows to capture more buyers spreading their spending out. The nature of cash back is that because the buyer now has money available, they are more likely to return to the store and get a few more items that they need before school starts.

Q: How would you advise brands to maintain momentum and engagement with consumers throughout the year?

A: It’s important for brands to figure out how to be authentically relevant. In some seasons, you are the star, but in other seasons, you can add value by just being part of the ensemble. Providing a unique, fun, and relevant way to add to the season—especially if you can give them some cash back or rewards—is a great way to build a relationship that ultimately leads them to building their shopping basket more often.

3 Strategies in Back-to-School Marketing

Brands tend to gravitate towards traditional messages about “must-have” items, which is great until the financial pressure forces parents to start considering alternatives. If the back-to-school season starts slow, make a quick pivot to supplement those messages with value-driven deals.

Influencers will play a larger role in reaching kids, showcasing new ideas on how mom or dad can “win back to school.” The parents, then, will hear about it.

Don’t make consumers hunt for coupons and rewards. Do the extra work to incorporate the deal into all of your creative assets and work with a partner that can help personalize the reward. Lastly, figure out a way to let consumers try the product through sampling, freebies, or trials, which can provide just how critical it is. If the kids are happy with that first packed lunch, and the brand is included, it will have found a home for the rest of the school year.

This article originally appeared as part of the EMARKETER report “Data Drop: 5 Charts on 2024 Back-to-School Shopping.” Click here to download the full report. 

Ready to seize the seasonal moment?

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