ATLANTA, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Cardlytics (NASDAQ: CDLX) released its annual back-to-school (BTS) trend analysis, which underscores the importance of providing consumers with an omnichannel shopping experience to maximize consumer loyalty. The analysis, which comes as 62 percent of consumers start their back-to-school shopping this month, examines previous BTS spending behaviors for a sense of what to expect during the 2022 BTS shopping season amid the backdrop of rising inflation.

Key Take Away
Notably, the analysis found that consumers who shop across channels (e.g., in-store, online, apps, etc.) spend more. In 2021, shoppers using just one channel spent an average of $900 during the back-to-school shopping season, but those who purchased items across multiple channels spent over $1,000. Even as customers spent more across both on and offline channels in 2022, in-store shopping remains the preferred method for most. It also shows that in-store sales are slowly returning to pre-COVID levels at 63 percent of total spend in 2021, compared to 61 percent in 2020, and 73 percent in 2019.

As shoppers gear up for the 2022 season, inflation may drive these figures higher due to spend per purchase, but that does not necessarily equate to increased purchases in any given category. Cardlytics’ Q1 2022 State of Spend report saw a slowdown in spending toward the end of Q1 as consumers made adjustments to accommodate increased costs in goods, food, gas, and housing brought on by the highest inflation seen since the 1980s. This could continue into the BTS and holiday 2022 seasons as customers focus on purchasing essentials and possibly engage in more one-stop shopping.

“Convincing your customers to convert on both online and offline channels is essential to maximizing incremental sales and customer loyalty,” said Nate Bucholz, Cardlytics’ vice president of DTC, Subscription, and Retail. “Our insights continue to show that people shopping across a brand’s available channels spend more than those who shop in only one channel. And they are more likely to return. Looking at your customer base through the lens of the channel they shop can help you get the most impact from your marketing spend. I would encourage brands to offer the best sales and cashback rewards now to acquire and retain customers as they head into the holidays, which is the last big shopping season of the year.”

Additional Trend Highlights
The back-to-school season is the second largest shopping event of the year behind the December holiday season, making up 15 percent of annual consumer spending. The analysis includes sales for apparel, home décor, office supplies, sporting goods, shoes, and mass merchandiser, finding that:  

The review covers an eight-week period beginning the second weekend of July and lasting through Labor Day. Early insights from the first two weeks of July 2022 show that spend is down 8.4 percent YoY as customers brace for economic uncertainty. This points to a decline in the number of customers and purchases resulting in a sluggish start this season across all categories. To view the full trend analysis, visit: https://www.cardlytics.com/blog/customer-loyalty-is-the-battleground-for-back-to-school/

About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin, Detroit and Visakhapatnam. Learn more at www.cardlytics.com.

Contact
Monica McDonald
Communications Manager - Cardlytics
Mmcdonald@cardlytics.com