It's now the second week of a brand new school year, which means many students and parents are busy wrapping up the final shopping for their back to school list. Back to school shopping normally begins in the early summer, peaking in late August, and continues to dwindle into September. As the second busiest shopping season, behind the holidays, it's an important time for a variety of industries.
School supplies, lunchbox essentials, electronics, and even clothing boom in sales during this time. In 2018 parents in the United States expected to pay an average of $600 getting their children ready to head back to school. Competition for a portion of these sales continues to increase every year, and some retailers struggle to meet demands.
A competitive advantage in the back to school market begins with supply chain visibility. This visibility improves the data available across the supply chain, including historical and partner data. Ensuring that you have enough of the right products when you need them is a difficult job for procurement professionals, and a lack of adequate data only increases the difficulty. This means that if retailers want to best serve their customers during these busy seasons, it's essential to have all the best data to make decisions.