How to prepare your business for student-led demand
As we enjoy the second half of summer and approach autumn, students worldwide head back to universities and colleges.
And that is an event worth noting for retail businesses.
Towns dominated by higher education establishments see trends unlike other locations.
And businesses based there will profit if they’re aware of these and can adapt accordingly.
This article will cover what trends to look out for and how to make the most of them.
What are the trends?
Analysis of several towns dominated by their universities showed unique retail trends absent in other places. One of them is that college students are up to 10x more likely to be customers of large retail stores in towns dominated by universities.
Another is a noticeable spike in demand in mid-August as students return to campus and load up on supplies for the upcoming year. This is what your retail business should be looking to focus on as the summer enters its later stages.
If you can prepare to meet this demand, you will get a surge of business as summer winds down.
So how exactly can you ready your retail business for the unique market of college towns?
Hire temporary workers to meet demand
Another feature of places dominated by higher education establishments is a readily available temporary workforce. Plenty of students might be coming through your doors to shop, but you should also be able to bring a few onboard as temporary staff.
There are likely to be students looking for part-time work throughout the year, but it’s even more common for them to take on short-term jobs outside of term time. Of course, using an agile employee scheduling app like Findmyshift will make it far easier to manage any new faces!
Your seasonal staffing needs could look quite different to other stores as well. While most places see a bump in demand in the runup to Christmas, as well as fairly stable footfall during the week of the holiday itself, college town stores usually get a much smaller spike, and even see demand go down in the week of the 25th as students head home.
Expect later visits
With daytime classes and more varied sleeping patterns, stores in student towns also see more demand later in the day. You can expect roughly 10% more business between 4 and 8pm than if your business was elsewhere.
This means that your footfall could change drastically throughout the year depending on whether the students are in town or not. Knowing this in advance can help you adjust staffing levels to match.
Tailor offerings to younger audiences
With Gen Z making up the majority of college and university students, it’s important to cater to their preferences and the expectations they have of retail in 2025 and beyond. That means embracing digital platforms, offering personalisation, and building around positive brand values.
While many shoppers start their journeys online, they are still likely to make in-store purchases, so offering a true omnichannel experience is important. Building e-commerce functionality into your social media platforms can help capture both sides of these journeys.
Tailored products allow consumers to express themselves and their identities. While many traditional retail products can’t scratch this itch, new solutions for custom printing, digital personalisation, and made to order products can bring in revenue.
Wanting products that say something about them is also reflected in the demand for brands with strong values. The choice of what businesses they support with their custom leads Gen Z to consider ethical and environmental factors in their decisions. Highlighting the good work your business is doing in these areas could enhance your appeal with this customer segment.
With that August spike due soon, now is the time to start thinking about how you can attract more students to your retail business this academic year.