Generation X, which refers to those born from the mid-sixties to late seventies is one of the most highly educated generations in history and is characterized by technological and media savvy, skepticism and pragmatism 1. Above all, these shrewd customers usually make informed purchasing decisions and often search the internet for the best deals. So what makes Generation X different from other generational cohorts?
Continue reading Know Your Clever, Less Distinctive Customers – Generation X
If you were born 50 to 70 years ago, you’re a ‘Baby Boomer’. Yes, most of you are still alive and do most of things you did as a youngster, but doing it differently. Retailers should realize that you are different from other generations and therefore behave differently when shopping. If they make your shopping trip a pleasant one, they may find that you (Baby Boomers) can be a profitable customer niche. Similarly can retailers with an online presence achieve more sales and positive word of mouth once they recognize Baby Boomers is a valuable consumer segment.
Continue reading Shopping Behavior of The Baby Boomers
Customers of different ages (or generations) behave differently when they go shopping in a store or online. This aspect of human behavior and demographic segmentation are sometimes forgotten by retailers. The market for retailers is in turmoil because of changes in consumer behavior, intense competition and digital disruptions. Subsequently most retailers have to reduce the price of their products to maintain their sale volumes.
Continue reading Demographic Segmentation – Dividing the Market by Generations