Parents are increasingly turning to chain stores and online shopping for school supplies. Yet small and mid-sized independent retailers can still get an A+ on their back-to-school sales report cards.
The essentials to success include astute inventory management, unique promotions and other smart planning.
To start, it is a good idea to think about placing orders for school supplies as early as the end of April. As with people’s shopping habits for the holiday season, parents are stocking up on school supplies earlier than ever. Some establishments have items on the shelves within weeks, and in some instances, even days, after the final bell rings out welcoming summer vacation.
It is vital to study trends and browse shelves in other stores and online to inform your business strategies. Ordering outdated and what kids and teens consider uncool items could leave you with a good number of products that will only sell come September, and only then through heavy discounts.
Likewise, underestimating the demand for traditional items that feature new technologies and popular-themed products can also negatively impact profits.
For instance, for middle and high-school students, consider stocking up on ballpoint pens with embedded clocks that help them manage time. Younger kids may be overjoyed receiving a Taylor Swift backpack. Her brand continues to grow more popular and won’t be fading anytime soon.
A big advantage for your business is that nearly every school these days provides a thorough and detailed list of supplies that parents need to buy to properly equip their learner. This gives your business a great starting point. If you do not have a child in the town’s schools, ask a friend or regular customer if they could bring you a list. Often, the lists are posted on the school district’s web site.
Key items include pens, pencils, sharpies, binders, calculators, spiral notebooks, earbuds for Chromebooks, Post-it Notes and much more.
School supply promotions are another great tool for independent businesses. Staples, Walmart, Amazon and Target traditionally start back-to-school marketing campaigns around July 4th. You should consider beating them to the punch, to avoid the perils of being late to the game.
Independent retailers have many benefits that can give them an edge. For example, there is a growing movement to support local businesses. You might want to use window advertisements to remind patrons that they can avoid driving longer distances to big chains only to encounter a crush of shoppers and an unpleasant, stressful visit.
Remember that teachers are also consumers for back-to-school items. They will be looking to enliven their classrooms, especially in grade schools.
Posters that colorfully display math timetables, historical facts and motivational sayings are top sellers. Educators also often need storage bins, whiteboards and bulletin boards.
There are several promotions that can distinguish independent sellers from the competition, such as loyalty and reward programs, special sales for teachers and discount days throughout the week.
Another way to tout your advantages is highlighting a personalized sales experience by reminding shoppers that your knowledgeable staff can give individual attention that can be lacking at larger stores.
