Instore - January/February 2014 - (Page 32)

understanding shoppers generational differences E very shopper brings their unique individuality to the store, and retailers will never be able to market or promote to each individual with 100% success. However, certain demographics of shoppers definitely share characteristics that set them apart from the others. The three biggest shopper demographics that retailers can focus their marketing and promotions on are generational. Baby boomers (approximately 80 million), Generation X (approximately 57 million) and millennials (approximately 73 million) represent the largest shopping demographics today. Baby boomer preferences According to consumer studies from Nielsen, data showed that 80 million US baby boomers currently account for 50% of consumer packaged goods (CPG) sales. A demographic of this size and spending power, requires the utmost attention of food retailers who look to maximize sales. Baby boomers want healthier foods, but they want them to have simple, clear and logical benefits rather than labels touting benefits due to fortification from an ingredient that has been isolated from a different source and added to the foods being purchased. They read labels, do research and show interest in foods that aid digestion, cardiovascular health and memory function, according to Technomic's Retailer Meal Solutions. Increase interest by showing baby boomers strong scientific evidence of the efficacy of those benefits. 32 * JAN + FEB 2014 * instore by Bob Sims As a coincidence of falling birthrates, healthier and longer lives, higher rates of wealth and longer career spans, there will be more people over the age of 60 than 15 and younger by 2047, according to A.T. Kearney's Understanding the Needs and Consequences of the Aging Consumer. Today's older consumers, and the ones who will follow them, have a special set of needs due to their aging bodies and changing lifestyles. An important thing for retailers to remember about baby boomers is that they come from all walks of life. Like their younger counterparts, they are not a homogenous group, Kearney says. Training and educating staff to be knowledgeable about health and ingredient labeling will go a long way with shoppers from the baby boomer generation. Baby boomers are naturally brand-loyal and prefer quality to lower priced items of questionable quality. According to the International Deli Dairy Bake Association's (IDDBA) What's in Store 2014, 43% of these older shoppers said they'll only buy products on special offer if the quality is equal to their normal purchase. Speed, ease and authenticity Generation X, the smallest of the three generations, has reached a point in their lives where they are being pulled in different directions by aging parents and young children. In the Futures Company study titled "A Closer Look at Consumers 35-55", 71% of Generation X stated that no matter how hard they try, they never seem to have enough time to do all the things they need to. When marketing to this generation, consider convenience and time savings as top priorities.

Table of Contents for the Digital Edition of Instore - January/February 2014

Instore - January/February 2014
Editor's Note - The Halloween Issue
What's in store for Sept + Oct
Table of Contents
News - On Our Radar
Consumer Insights - Trending Bagels
Trending Deli Meats
Regulation Watch - Trans Fats
Consumer Trends - Consider Mediterranean
All Natural and Organic
Gear Up for Halloween - Fall Forward
Other Emerging Shopper Trends
Understanding Shoppers - Generational Differences
Gear Up for Tailgating - Tailgating 'round the clock
Amazon Fresh expands to LA
Product Trends
Product Showcase
Next Up: The Thanksgiving Issue

Instore - January/February 2014