FDRA: Vast majority of families plan to spend the same or more on back-to-school shoes

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The Footwear Distributors and Retailers of America (FDRA), in conjunction with First Insight, conducted a survey that shows 78% of families plan to spend more or the same as last year on children’s shoes.

The survey of 691 households with children aged from primary school to university was carried out to find out how soaring inflation and a potential recession on the horizon will impact the shopping season of the back to school this year, as well as the economic health of the footwear industry as a whole. It also explores changes in consumer behavior such as the role of social media as parents and children use major platforms and influencers to inform their purchases.

Other key findings:

  • 63% of families plan to spend $75 or less per pair of shoes, up from 81% in last year’s survey
  • 36% expect to spend at least $200 total on back-to-school shoes this season, more than double the rate last year (17%)
  • 67% of families are buying more online due to rising gas prices
  • 61% plan to use social media to shop, led by Facebook
  • 21% of all families will buy shoes exclusively online for back to school
  • 29% are spending at least $300 more per month on their total purchases compared to last year

“FDRA’s recent survey of 100 top shoe CEOs revealed that their biggest concern as we head back to school is no longer supply chain issues, but consumer behavior is changing as the economy is slowing and inflation continues to eat away at wallets. That’s why this report is so important, because it gives us a better understanding of where families plan to shop, how much they expect to spend, and what that influences their choices,” said Andy Polk, senior vice president of the FDRA. “This survey is also extremely important for understanding the health of the U.S. economy, as shoes are a critical barometer as products that families have to buy. This shows several interesting shifts happening in family spending and channels.”

“With inflation rates at 40-year highs clearly weighing on consumer confidence, it’s more important than ever for brands and retailers to get and use granular, real-time insights into the changing needs and willingness to spend of their customers,” said Greg. Petro, CEO, First Insight. “Implementing predictive voice-of-the-customer analytics and digital product testing enables retailers and brands to bring the right products to market faster by refining purchases and weeding out underperformers before they even fail. With First Insight, brands get actionable feedback from their ever-changing customers to ensure consumers get the products they want at the right price.

Click on here to download the full report.

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