New wave of students = Big business for retail
As the start of a new academic year rolls round, students are looking at where to spend their student loan! With freshers predicted to spend, on average, £3,300 in their first 100 days at university it’s unsurprising that retailers are wising up to the value of targeting them. Here’s how the smartest players are winning them round:
Dialing up Desire with timely discounts
Many high-street retailers offer a 10%-off student discount as standard. However, some brands (e.g. Asos, Office, Jack Wills, H&M) have heightened desire with more dramatic, time-limited offers – tempting students to splash their cash at the best possible time; when their bank accounts have just had a huge influx!
Creating a sense of Belonging with exclusive events
Retailers and shopping centres have started to go that bit further to connect with the student population – holding special Lock-Ins and other such events. Students are invited to take advantage of even bigger discounts and then made to feel like VIPs as they get privileged access to student-only shopping, often after hours.