Retailers will benefit from students’ graduations

By: Teamwork Retail

Retailers can always find ways to promote their products that coincide with special times of the year. Throughout the United States, students are graduating from colleges and universities ready to take on the world with their first jobs or continue their education. A National Retail Federation report suggested that businesses will benefit from the gifts given to these recipients.

The publication’s Graduation Spending Survey conducted by Prosper Insights & Analytics discovered spending on items for graduates – apparel, gift cards and electronics – will total roughly $4.8 billion, marking the highest amount in the study’s 10-year run. Overall, shoppers will spend an average of $102.50 for every two graduates.

People aged between 45 and 54 will be most generous this graduation season. The survey found this group will spend an average of $126.43 this year.

Businesses that know their audiences will be in a position to entice young people to buy goods from their stores. These customers are young and tech-savvy, so they may expect brick-and-mortar shops to offer some modern amenities, including interactive displays and easy checkout processes that are streamlined to avoid long lines.

Retailers may also want to upgrade their point-of-sale systems to improve the shopping experience and enhance efficiency. A cloud-based mobile POS is the perfect solution to spruce up physical stores, allowing businesses to replace aging equipment in favor of tablet-based tools. By mounting iPads, companies are able to maximize shelf space while providing an easy way for shoppers to use these devices to access loyalty rewards, check item availability and even make purchases.

Brands that replace outdated POS systems with more agile solutions will be ready to capitalize on any seasonal commerce trend headed their way.

Blog Categories