Top Emerging Trends Of Back To School Market Progress Forecast 2028 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on November 21st, 2022 The global back to school market size is estimated to reach 5.7 BILLION 245.7 billion by 2028 and is expected to grow at a CAGR of 5.2% from 2022 to 2028, according to a new report by Grand View Research, Inc. The global market growth is significantly driven by the increasing population and rising percentage of primary and secondary school enrollment, mostly in developing nations. Government initiatives and expansion of school programs across the globe are driving the demand for school supplies and stationery, propelling the growth of the market. A rapid growth in the retail sector and significant improvement in digital technology also drive the market on the account of the easy and fast accessibility & availability of school supplies and products. The COVID-19 pandemic negligibly affected the global market. The majority of the shopping, which is done from June to September, was not heavily affected by the COVID-19 restrictions. Over the forecast period, the market is expected to gain momentum due to increasing spending on electronics for online schooling, and witness a healthy & steady growth rate. On the basis of types, the electronics segment is anticipated to witness significant growth during the forecast period. The high demand for smartphones and laptops is driving the segment growth. COVID-19 pandemic-induced increased penetration of smart classrooms and green school format is also boosting the demand for electronic gadgets, which is likely to drive the segment growth. The online segment is estimated to register the fastest CAGR from 2022 to 2028. Increasing consumer preference for online platforms due to quick & easy shopping experience, convenience, and discounts on product prices is also driving the segment growth. Moreover, due to the COVID-19 pandemic, many vendors and manufacturers have adopted an online sales mode, which is expected to drive the growth of the segment during the forecast period. For instance, The Stationery Store launched an online website in March 2021. Central and South America are anticipated to witness the second-fastest CAGR during the forecast years. Economic development, urbanization, and enhancement of the education system are expected to drive the region’s growth. Government initiatives and private organizations are spreading awareness about the importance of primary and secondary schooling in the region. This is expected to drive the demand further. The global market growth is driven by developments in the digital area and retail sector. Increasing retailing of school stationery and supplies through online distribution channels is boosting the global market growth during the forecast years. Improvements of the online payment gateways with secure encryption allow easy and fast availability to consumers, propelling market growth. The market is also driven by the increasing spending on stationery and supplies by parents for their children in developing countries, including, India, China, Brazil, South Africa, and others. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/back-to-school-market-report/request/rs1 The COVID-19 pandemic slightly impacted the sales of the school products during the initial months. During the peak months of the new school terms, spending on school supplies increased. According to the National Retail Federation, in 2021, families spent 5.7 BILLION 59 more compared to 2020. Over the forecast period, the market is expected to experience healthy and steady growth, as the world is returning to normalcy, and schools again are shifting from online to offline mode. The market growth is also fueled by developments in brick-and-mortar retail sectors. Due to rapid industrialization and urbanization, shopping malls, department stores, and specialty stores are expanding to new regions, supporting the market growth. Global market growth is restrained by the growth in the use of electronic products replacing the use of writing and reading supplies, such as notebooks, pens, and pencils. Back To School Market Report Highlights
The growth in the smart classroom and green school programs that work on the idea of global sustainability, recycling, and reducing waste are expected to decrease the demand for some stationery supplies. E-commerce or online channels are expected to offer many growth opportunities to the market players. Given the trend of increasing dependency on online transactions and digital technology due to the convenience and ease of operation, the back-to-school market is also anticipated to profit from the online distribution channel. Key players are entering and expanding their presence in the e-commerce sector. For instance, Inchpaper, an e-commerce company founded in June 2020, started a home-delivery service for stationery products, as published in September 2020. The company is based in Haryana, India, and delivers its products in over 50 cities and towns in the country. Product innovations and launches are anticipated to boost the market growth during the forecast period. Key players are focusing on innovations to upgrade and enhance the quality and functionality of the school essentials. This attracts more customers and encourages consumer spending, driving revenue generation. For instance, as reported in October 2020, Cello Group was planning to re-enter the stationery market with the launch of a small portfolio in the domestic market. Some of the prominent players in the global back to school market are:
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