Economic difficulties change the buying behavior of loyal customers
Economic difficulties change the buying behavior of loyal customers
Due to the financial difficulties caused by rising inflation recently, the timing of back to school is becoming a problem for parents. According to the research, parents are now expected to store at affordable places rather than the places where they used to store regularly.
However, Sucharita Kodali, deputy principal analyst who participated in the study, said, "There are a lot of people complaining about inflation and a lot of consumers complaining about inflation, but despite that inflation, they usually do not change their behavior."
"Inflation has affected every aspect of back-to-school shopping this year, and most retailers' strategies seem to reflect the impact of inflation on consumers' ability to invest in school supplies and clothing," said Dave Bruno, director of Retail Market Insights on the issue.
Bruno also said in the statement that Amazon's Prime Days have become an unofficial starting point for the back-to-school shopping season, as Amazon still generates nearly $12 billion in sales during those days.