Over the recent years the main target market for many retailers has been baby boomers. Baby Boomers are now in their 50’s and more people are reaching their 50th birthday than ever before. This sector of the market has had the most effect on society and retailing since they started the ‘Flower Power’ revolution in the early 60’s.
1. Provide DIM Products and Services
This sector has become the major ‘Do it for Me’ sector of society. It is time poor and money rich and has been responsible for the major growth in the service industries, home meal replacement and the patio garden.
To expand your sales in this market you need to provide finished products or services. Within reason, this customer sector will pay for these services.
2. Provide Exceptional High Customer Service
This group of customers is becoming less loyal and more demanding and requires a higher standard of customer service. If their perception is that you are failing in customer service then they will shop somewhere else.
3. Provide Time Poor Service
Expect the fact that this group is short of time and are willing to pay for services that will save them time. With this in mind consider:-
• Home delivery
• Ready presented products
• Gift-wrapping
• Selling on the web
• Providing unique products
4. Be Fashion Conscious
For many retailers their prime target will be a baby boomer female. Many of these women are fashion conscious when it comes to style and colour. You need to be a leader, not a follower, when it comes to trends within these areas. Fashion today shows up in the kitchen, garden, food we eat, living room and ornaments as well as what we wear.
5. Be Aware of the Wants of Baby Boomers
Baby boomers are the ones that are leading the trends towards:-
• Safety – They shop where they feel safe.
• Freshness – They purchase products they believe are fresh.
• Hygiene – They shop at businesses they believe are clean.
Remember, retailing is about perception in the eyes of your customers. You need to promote the areas that are important to them.
Management Memo
According to Faith Popcorn in Clicking baby boomers are:-
1. Cocconing - In the USA 33% of people have changed shopping habits for safety reasons. 43% do not shop after dark due to safety reasons. 1 in 3 homes have alarm systems.
2. Clanning – Forming special interest groups.
3. Fantasy Adventure – Virtual Reabity, exotic meals (eg Moven Pick Restaurants in Canada and USA.
4. Pleasure Revenge – Smoking defiantly, diet rebelling, drinking harder.
5. Small Indulgences – Increase in sale of champagne, perfume, cut flowers etc.
6. Anchoring – Spiritual awareness.
7. Economics – Customised products, ‘me’ products.
8. Female Thinking – ‘Female think’. Requiring a relationship before the sale.
9. Mancipation – New male, more emotional.
10. 99 lives – ie In the USA the Elephant Secretary service reminds you 24 hours a day important birthdays etc.
11. Cashing out – Dropping out of copping out.
12. Alive – Skin Cancer doubled since 1970. New diseases Stress.
13. Down Aging – Believe they are ten years younger than they are.
14. Vigilante – Lack of trust.
15. Icon Topping – If they do not like a company they will topple it.
16. Save Our Society – 20% air pollution, mowers, blowers in USA. $100 pollution control devices are the major sales.
Ref Clicking: Faith Popcorn
We represent Tony Curtis in licensing. He is hugely popular with boomers, and also has an animal sanctuary. A perfect fit for the right pet branding! Contact me at michael@famefarm.com, see images at www.famefarm.com
Posted by: Michael | June 03, 2009 at 09:31 AM
Not so sure I agree with being fashion conscious. While there are SOME baby boomers that fall into this category, the vast majority follow outdated fashion trends. So, it'd be better to be fashion conscious of trends like, say, 10 years behind current trending.
Marc
Posted by: Business Marketing | November 10, 2009 at 12:11 PM