College stores: key portal to college-age market

Source: Retail Digital

Date :6/22/2007 8:49:09 AM

National Association of College Stores Foundation survey reveals shopping habits of college-bound teens.

The “consumer of tomorrow” has the largest future buying power and with it, a wide variety of traits and tastes. Many will be exercising that power in college stores, according to the latest Student Watch™ report—Retail Inspirations: Insight from College-Bound Consumers.

“Estimates place the buying power of the college-student market at $100 billion annually,” notes Julie Traylor, director of research and planning for the National Association of College Stores (NACS). “This study shows where and how that powerful consumer demographic is spending the bulk of its dollars.”

Funded by the NACS Foundation, the philanthropic arm of NACS, the 2007 Student Watch project combined qualitative information from focus groups of students on several college campuses with quantitative data from a national survey of 1,034 college-bound high school students. Its objective was:

• To gather feedback from college students regarding their awareness of such things as the desirability of “green” and free-trade products, and their purchase and usage of technology and electronics.

• To analyze responses from college-bound teens about what is important to them as consumers looking forward to college, what they desire in technology products, their social concerns, their values and media habits, and generally what they consider “cool.”

The study found that college students trust their local college store as a retail outlet, and appreciate the non-textbook offerings the store has to offer, including: non-branded apparel, health and beauty items, dorm room decorations, and basic grocery items. In addition, the study found a vast majority of college-bound students:

• Already own digital devices, but plan to acquire even more in the coming year

• Place simplicity and value above “coolness” in their technological purchases