1、2020 Deloitte back-to-college survey Reimagining the return to class July 2020 Copyright 2020 Deloitte Development LLC. All rights reserved. | 2 INTRODUCTION Executive summary As we approach a new school year, many parents are weighing difficult decisions about sending their children off to college,
2、 especially as several states are experiencing flare ups of COVID-19 cases. Its likely that nothing about higher education will be normal this year, but those who plan to shop for back-to-college (BTC) supplies are intending to stick to their normal spending plansat least for now. Many dont plan to
3、shop until later in the season, leaving the possibility that spending patterns could change. The pandemic closed most of the countrys 7,000 colleges this spring, affecting roughly 20 million students, with many finishing their semesters virtually from home. Only 52% of parents were satisfied with th
4、e education students received this spring, and many are now contemplating the value of online learning at the price of an on-campus experience. Meanwhile, 62% of parents are anxious about sending kids to college because of the pandemic, and 40% are concerned about making upcoming college-related pay
5、ments. This has caused some parents to explore alternate options for the upcoming year, such as taking a gap year, living at home, or finding more affordable schooling. We wont know how many students actually follow through with these alternative plans for several months, but the implications could
6、be damaging to educational institutions as well as retailers and communities that benefit from student spending. With this backdrop of uncertainty, we launched our annual back-to- college survey to explore intended behavior of parents who plan to spend on back-to-college items this summer. Although
7、anxiety and concerns are running high, this group of consumers seem intent on giving their children a somewhat normal back-to-college experience. Expected spend is relatively flat over previous years, with an uptick in spend from higher-income families offsetting a lower spend from middle- and low-i
8、ncome households. Retailers should understand that parents are adapting to the new realities of the pandemic and altering shopping behavior. Spending trends are shifting to online formats as consumers prioritize convenience and safety more than in years past. For further details on how back-to-colle
9、ge shoppers are planning for the upcoming year, please view our findings below. Rodney R. Sides Vice chairman there is an opportunity for retailers as 29% remain uncertain of how they will purchase As COVID-19 has kept people at home, 80% expect to shop from personal computers this year vs. 68% in 2
10、019 Spending trends flat YoYPreferences: Safety makes the list Parents expect to spend an average of $1,345 for back-to-college (BTC); there is a bifurcation in spend with high income growing 6%, while middle and low income drop 12% and 4%, respectively With roughly 75% of BTC spend being planned fr
11、om late July onwards, the spending plans may dramatically change later in the summer based on how college re-openings are planned 75% of shoppers plan to shop at mass merchants this year; price still a driving factor for where to shop but convenience and safety becoming more of a priority this year
12、Copyright 2020 Deloitte Development LLC. All rights reserved. | 5 Satisfaction levels around the education college students received during the COVID-19 shutdown were lackluster no matter the learning format provided 7% 11% 21% 55% 72% Nondigital learning packets and assignments provided by college
13、Online tutors for one-on-one sessions E-learning platforms run by private companies Live streaming of classes Digital learning content provided by college Learning resources during shutdown Question: How did your childrens college provide education while the school was closed because of COVID-19 out
14、break? (multi-response question; hence, the total will not equal 100%). Note: N=835. 81% Parents who had their childrens colleges closed since March 2020 52% Satisfied with education provided during shutdown Copyright 2020 Deloitte Development LLC. All rights reserved. | 6 Parents are anxious about
15、sending their children back to college amidst the pandemic, and lower- income families have additional concerns around making upcoming payments Question: To what extent do you agree or disagree with the following statements? (1) Im concerned about my familys health, and my own. (2) Im concerned I wi
16、ll not be able to make upcoming payments (e.g., rent, mortgage, auto, credit card). Note: N=1,025. OverallLower income (Less than $50k)Middle income ($50k-$99k)Higher income ($100k or more) 73% 78% 71% 68% Concerned about personal and familys health Health concerns (by household income)1 30% 50% 28%
17、 15% Concerned about not being able to make upcoming payments Financial concerns (by household income)2 34% Households financial situation worse than last year (vs 20% in 2019) 62% Are anxious about sending students to college due to COVID-19 Copyright 2020 Deloitte Development LLC. All rights reser
18、ved. | 7 Despite colleges taking precautions seriously, many families are considering alternative plans because of COVID-19 Question: What precautions are being implemented by your childrens college because of COVID-19? (multi-response question; hence, the total may not equal 100%). Note: N = 1,025.
19、 Precautions during re-opening 24% 4% 24% 36% 44% 56% No communications from the college Remain closed for fall Stagger class schedules Reduce class size or number of students in a class Implement social distancing for college activities Use remote/virtual classes 29% Living at home instead of payin
20、g for dorm or off-campus housing 28% Plan to join online-only college due to COVID-19 11% Moving to off-campus housing because its safer/healthier than dorm Copyright 2020 Deloitte Development LLC. All rights reserved. | 8 For now, parents are not expecting to make many changes in BTC category spend
21、 compared with last year Notes: N=1,025. Electronic gadgets include cell phones/smartphones, tablet/e-reader, and wearable devices; digital subscriptions include voice and mobile data plans. All currency values are in US dollar. Sources: Deloitte calculations on the BTC market spend ($25.4 billion);
22、 Deloitte survey; US Current Population Survey 2019. College supplies $7.6B Clothing and accessories $3.3B $25.4B est. market size Computers and hardware $5.6B Dorm/apartment furniture and supplies $3.0B Household appliances and supplies $3.3B Electronic gadgets and digital subscriptions $2.6B (-3%
23、YoY) (+3% YoY) (-6% YoY) (+8% YoY) (+4% YoY) (0% YoY)- Copyright 2020 Deloitte Development LLC. All rights reserved. | 9 While BTC spending remained flat over the years, it is gradually shifting more toward technology products over conventional college related items Notes: N=1,025. All currency valu
24、es are in US dollar. Percentages may not equal 100% due to rounding. Source: Deloitte calculations on BTC market spend. Average BTC spend by parents and split by category 2016 to 2020 34%33% 32% 29%30% 12% 11% 12% 14% 13% 18% 17% 16% 14%13% 12% 11%14% 12% 12% 6% 8% 9% 10% 10% 19% 20% 17% 22%22% 2016
25、20020 College suppliesHousehold appliance and suppliesClothing and accessoriesDorm/apartment furniture and suppliesElectronic gadgets and digital subscriptionsComputers and hardware $1,345 $1,347$1,330 $1,362 $1,345 Copyright 2020 Deloitte Development LLC. All rights reserved. | 10 $1,182
26、 $1,132 $1,130 $1,088 $1,325 $1,346 $1,443 $1,275 $1,563 $1,564 $1,552 $1,647 20020 OverallLower income (Less than $50k)Middle income ($50k to $99k)Higher income ($100k or more) BTC: average spend (by household income) Quick-take Increase in BTC spend by higher-income households is mostly
27、 driven by dorm/ apartment furniture and household supplies categories, along with digital products (computers and electronic gadgets). Meanwhile, lower- and middle- income households are expected to tighten their spending budgets. High-income families expected to spend more YoY, offsetting reductio
28、ns by middle- and low- income shoppers Notes: N=1,025. All currency values are in US dollar. Source: Deloitte calculations on BTC market spend. Copyright 2020 Deloitte Development LLC. All rights reserved. | 11 While parents are likely to pay for bulk of BTC purchases, students are also exploring mu
29、ltiple options to curb expenses in the new school year Question: How is your student(s) planning to curtail their college education expenses this year? (multi-response question; hence, the total will not equal 100%). Note: N = 1,025. Top five ways families plan to curb expenses in the new college ye
30、ar 31% 33% 37% 46% 53% Use second-hand educational resources Stay with parents instead of dorms or off-campus accommodations Discuss and manage spending budgets with parents Take advantage of student discount at various retailers Stay on parents insurance package 79% of parents plan to pay for more
31、than half of the total BTC spend Copyright 2020 Deloitte Development LLC. All rights reserved. | 12 54% 49% 54% 46% 37% 25% 25% 24% 28% 34% 21% 26% 22% 26% 29% 200192020 In-storeOnlineUndecided (in-store or online) BTC spend: Share by channel $9.4 Billion $8.6 Billion $7.4 Billion Avg. sp
32、end: $500 Avg. spend: $455 Avg, spend: $390 Contribution to overall BTC spend As online and in-store formats converge, retailers have an opportunity to capture spend from the one-third of shoppers who are undecided Question: Please indicate the % of the budgeted amount you expect to spend in-store o
33、r online or undecided. Notes: N=1,025. All currency values are in US dollar. In-store Undecided Online Copyright 2020 Deloitte Development LLC. All rights reserved. | 13 With 75% of BTC shopping being planned for late July and onward, the spending plans might dramatically change later in the summer
34、based on how college reopenings are planned Question: Out of $_ you plan to spend on BTC shopping, how much do you plan to spend during the following periods? Notes: N=1,025. All currency values are in US dollar. BTC shopping periods by traffic and total spend 16% 33% 56% 68% 39% 13% Earlier than Ju
35、lyFirst 2 weeks in JulyLast 2 weeks in JulyFirst 2 weeks in AugustLast 2 weeks in AugustSeptember $2.1B$3.8B$7.1B$7.7B$3.7B$1.0B $B Total BTC spend (out of $25.4B) during noted period % of active BTC shoppers during noted period Copyright 2020 Deloitte Development LLC. All rights reserved. | 14 Safe
36、ty concerns helping to accelerate digital engagement especially around contactless formats 80% BTC shoppers plan to use personal computers for their retail journeyfrom accessing retailers website to making purchases Personal computer usage at 80%, up from 68% in 2019 Mobile usage remains flat YoY at
37、 48% Personal computers likely to be more frequented this year as consumers shopping from home 310% BTC shoppers plan to use one of the emerging technologies for their shopping journey Shopping using voice assistants10% Cashier-less stores9% Augmented/virtual reality3% Emerging technology still not
38、on many consumers agendas for shopping journey 53% BTC shoppers plan to use at least one format of contactless retailing route more frequently in the near term Use BOPIS more frequently28% Shop less at brick and mortar stores24% Use more home delivery services24% Contactless retailing routes to be k
39、ey to near-term shopping plans for the season Copyright 2020 Deloitte Development LLC. All rights reserved. | 15 Most important considerations when selecting a retailer Price remains the number one priority for shoppers but convenience and safety are important factors this year because of health con
40、cerns Question: What are the most important considerations when selecting a retailer for BTC shopping? (top three in each category; multi-response question, and hence, totals may not equal 100%). Notes: N=1,025. Percentages given under four theme names represent the percentage of shoppers who select
41、ed at least one option in each theme. 15% 15% 35% 43% 46% 51% 33% 33% 60% 20% 58% 69% Retailer reputation Shopping experience Coronavirus (COVID-19) precautions Carries brands/styles I want Carries items on my list Product quality Ease of checkout Store location Free shipping Price matching Sales/pr
42、ice discounts Competitive prices Product (79%) Price (85%) Convenience (85%) Safety/experience/ brand (52%) Quick-take Price sensitivity is no longer the sole consideration for BTC shoppers while picking retail destinations. Convenience and safety are emerging as key determinants of retail selection
43、. This lines up with growing focus on speed, accessibility, and COVID-19 precautions in the shopping process. Copyright 2020 Deloitte Development LLC. All rights reserved. | 16 Mass merchants and bookstores still favorite BTC formats; online-only retailers gaining some ground at the expense of in-pe
44、rson retailers Notes: N=1,025. This was a multi-response question; hence, totals may not equal 100%). Source: Deloitte survey. Planned retail formats for BTC shoppingvs 2019 4% 5% 14% 19% 21% 22% 22% 22% 24% 27% 27% 29% 29% 30% 32% 51% 58% 75% Catalogs Pop-up retail storeson college campus Consignme
45、nt shops/thrift stores Drug stores Fast-fashion apparel retailers Home furnishings and housewares stores Supermarkets Specialty clothing stores Traditional department stores Warehouse membership clubs Dollar stores Bookstores (off-campus) Home electronics stores Office supply/technology stores Off-p
46、rice stores Bookstores (on-campus) Online-only retailers Mass merchant stores 0% 0% 0% 0% 2% 3% 1% 3% 3% 3% 1% 4% 9% 2% 3% 16% 16% 31% Plans to visitPlans to spend the most About the survey This annual Deloitte survey was conducted online using an independent research panel between May 31 and June 1
47、7, 2020. The survey polled a sample of 1,025 parents of college-aged children and has a margin of error for the entire sample of plus or minus three percentage points. All respondents had at least one child attending college this fall. Deloitte Center for Industry Insights The Deloitte Center for In
48、dustry Insights is the research division of Deloitte LLPs Consumer and Industrial Products practices. The centers goal is to inform stakeholders of critical business issues, including emerging trends, challenges and opportunities. Using primary research and rigorous analysis, the center provides uni
49、que perspectives and seeks to be a trusted source for relevant, timely and reliable insights. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US
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