Generation Gap: Retail Trends for 2015

It is 2015, and the impact of the generation gap on retail trends is not a new topic of conversation. That being said, for many brands and retailers alike, recognizing that different age groups benefit from different marketing tactics is proving harder to harness than many would like.

Each age group has certain characteristics that impact their buying behaviour and the purchases they intend to make over the coming months. These are just a few of the characteristics marketers are using to influence their strategies when it comes to Boomers in particular:

• Boomers are wealthier than previous generations.
• They are more concerned with youth and vitality.
• Most have some form of formal exercise in their schedule.
• Expect to take 4-5 trips in 2015.
• Boomers are downsizing in the real estate market. Purchasing condos with amenities within walking distance.
• Reviving the at-home dinner party, with more entertaining.
• Enjoying wine in a bigger way.

Still having a hard time recognizing how exactly you can take this information and apply it to your marketing strategy? Check out this great article from Magic Online, “4 Ways to Market to Baby Boomers in 2015”: http://magicblog.magiconline.com/content/4-ways-to-market-baby-boomers-2015.

Top 4 Ways:

1. Know that baby boomers are tech savvy - the all-to-common assumption that age denotes level of tech knowledge is a wasted opportunity.
2. Target without alienating other consumer groups - you can’t always please everyone at once, but that doesn’t mean segregating and separating your strategy to cut out various groups. 
3. Recognize that transparency and trust are everything - as shoppers get older, no matter the age range, loyalty changes - but transparency is a crucial way at maintaining a hold on that loyalty.
4. Don’t market to baby boomers as if they’re old - this one pretty much speaks for itself - no one likes this!

As far as retail trends for 2015 go, recognizing generation gaps is crucial for success.

For more about retail trends and how to implement them when it comes to your packaging strategy, please contact Packaging Technologies Inc. today by calling 1-800-303-5883.