Generational Shopper … X Y and Z

Understanding Different Generations and Their Shopping Experience

Move aside, make way for a new generation of shoppers! Well technically not new but new to me; generation Z.  And guess who’s part of it … my daughter.  After much persuasion by yours truly, she has entered the world of a self employed – babysitter.  Besides the obvious benefits to my now regular date night; it’s a chance for her to develop an understanding of spending and budgeting habits.  So, at her request I brought her to a small tween like store, and watched as she browsed, tried on…and tried on some more. 

This store knew its customer to the “T” with trinkets and bright colored clothing scattered throughout the store.  But to my surprise she left empty handed.  Which got me thinking.   Every generation has developed varying spending and purchasing habits based on surrounding influences and world events.  Pinpointing your ideal customer is great … now understanding their generational spending behaviors is a different story.  In this blog we’ll help you do just that! From  Baby Boomers to Gen Z we will explore their unique buying habits and spending money.

BABY BOOMERS 52-70

Before you throw this generation under the bus, they actually have the largest amount of disposable income compared to all the other generations.  Baby boomers are known to value customer service above all, and will abandon a purchase based on a subpar interaction.  Baby boomers don’t enjoy shopping in fact less than ⅓ find shopping relaxing.  But, they tend to prefer a brick and mortar location over online shopping. If this is your customer base, make their time in your boutique efficient and be sure to stick in some extra special customer service.  

GENERATION X 36-51

This generation is digitally savvy, using their smartphones daily  like their younger counterparts.  However, studies show they spend nearly 10% more time on a PC or laptop then Millennials, and are more apt to respond to email marketing as opposed to social media engagement.  Generation X will buy a product based on its uniqueness and high quality. If you’re catering to this customer base, focus on targeted email marketing, excellent customer service and products that standout.

MILLENNIALS 18-35 

This Generation has transformed and is entirely enamored by social media.  Millennials base decision making  on customer reviews.  8 out of 10 millennials will read a review before purchasing and 33% rely on blog posts.  Millennials love to research, they’ll even do it on a smartphone while in your store.  Millennials base their loyalty on authenticity and brand engagement.  62% will become a returning customer if a brand engages with them on social media and are 50% more likely to purchase from a brand that supports a cause. You want millennials shopping by you! Start by investing in a social media pro who can properly engage with customers and portray your brand image in an authentic manner.  And invest in supporting  a cause that your customers can relate to.

GENERATION Z

A Generation who has only known a world with the internet!  This generation may have small pockets but they hold a lot of influence.  93% of parents say their children influence household spending.  Like their parents they want a brand to be authentic and support a social or economic cause. Generation Z spend 2x the amount of time on their phone then millennials.  So whatever millennials do … Generation Z does even more from researching to purchasing.  But, speed is the name of the game for this generation, 62% admitting they wont use an app that is too slow.  If you’re gearing up this generation invest in a purchasing app and make sure it’s quick and easy to use.        

Generation Z are also more likely to save than spend having seen their parents struggle with student debt… thus my daughter. Nonetheless every generation is unique in their own right and can be engaged in varying ways. Keep your eye on the prize and stay true to your target customer.  Broadening your spectrum too much could cost you.  

Reach out to us for a consultation. We can help you develop a brand experience that reflects your unique customer! Our 15 min consolation is free and we would love to see you succeed.