American retailers are kickstarting their back-to-school promotions earlier this year to compete with Amazon’s Prime Day on July 16 and 17.
Walmart, Target, Shein, and Bytedance’s TikTok Shop are all launching their campaigns ahead of schedule to attract parents’ spending before Amazon’s event.
Retailers aim to capture market share by offering significant discounts sooner than their competitors. For instance, Target’s week-long event started on Sunday with 30% off on school uniforms and backpacks, while Walmart’s deals event runs from Tuesday to Thursday.
Shein’s seven-week sale begins on July 15, and TikTok Shop’s deals event runs from Tuesday to July 17.
Families are expected to spend more on back-to-school items this year, with some parents planning to increase their budgets significantly.
Back-to-school spending last year reached a record $41.5 billion for K-12 students, rising to $135.5 billion when including college students, according to the National Retail Federation.
Amazon’s Prime Day has reshaped the retail calendar since its launch a decade ago, turning a typically slow period into a competitive shopping frenzy, pushing other retailers to adapt by offering early and aggressive promotions.
(REUTERS)