They’re still spending. Here’s how to get some of that cash.
By Rieva Lesonsky
Yes, the Millennials are coming into their peak earning (and therefore spending) years. And Generation Z (teens and kids) controls a lot of spending. With all these appealing targets, you might be tempted to write off Baby Boomers as too old to market to. But that would be wrong.
According to Jeff Berry, the Editor-in-Chief at COLLOQUY, Baby Boomers are the generation with “the clout.” Berry warns, “Retailers who fail to recognize issues uniquely important to baby boomers could watch those shoppers walk out the door empty-handed.”
As COLLOQUY’s Shopping by Generation report explains, Baby Boomers have distinct shopping habits that you should be aware of to make sure you appeal to them. Here are just a few:
- They want convenience. LoyaltyOne survey results show Boomers place higher value than all other age groups on an easy-access location, an easy-to-navigate store and a clear return policy.
- They know the price. They score higher than all the younger demographics for having a good idea of how much they pay for food and packaged goods.
- At 84 percent, they are more likely than all other surveyed groups to prefer shopping in-store.
- Baby Boomers aren’t stuck in the good old days. They are the only generation that doesn’t prioritize buying the brands they used while growing up.
Want to learn about the other habits? Shopping by Generation is available to download free of charge.