Are Boomers being ignored by retailers?
Boomers, long showered with affection by marketers, are feeling overlooked and under-rewarded by retailers, according to a survey from ICLP, the loyalty marketing agency.
The survey found that less than 40 percent of Boomers who consider themselves “regular customers” feel appreciated by those brands. Just 12 percent expect brands will spend the time to get to know them and understand what they want. More than three out of four (77 percent) feel they are not rewarded with offers that are specifically tailored to them.
ICLP asserts retailers, whose online and mobile marketing efforts are largely directed at Millennials, are most out of step. Boomers remain affluent, “highly influential,” and are shifting more of their shopping online. Phil Seward, regional director, Americas at ICLP, said in a statement, “It’s important that retailers give this extremely important customer base what they want and need — a personalized customer experience that is responsive and communicative.”
COLLOQUY’s “Shopping by Generation” report similarly finds Millennials grabbing most of the attention from brand marketers while Boomers have greater disposable income and far more purchasing clout.
According to the LoyaltyOne survey findings in the report:
- Shopping isn’t relaxing for Boomers. Just 27 percent agreed with the statement: “I think shopping is a great way to relax.” The Boomer score is well below the other age groups.
- Boomers want convenience. Boomers place higher value than all other age groups on an easy-access location, an easy-to-navigate store and a clear return policy.
- At 84 percent, Baby Boomers easily topped all survey groups in saying they prefer to shop in-store.
- Boomers scored higher than all the younger demographics for having a good idea of how much they pay for food and packaged goods.
- Boomers aren’t stuck in the good old days. They are the only generation that doesn’t prioritize buying the brands they used while growing up.
COLLOQUY Editor-in-Chief Jeff Berry, said in a statement. “Retailers who fail to recognize issues uniquely important to baby Boomers (age 52 to 65) could watch those shoppers walk out the door empty-handed.”
- Retailers At Risk Of Losing Valuable Baby Boomers: 93 percent Of Age 55+ Us Consumers Would Shop At Competitor Brands – ICLP
- How We Shop: It Differs By Generation – COLLOQUY
DISCUSSION QUESTIONS: Is it wise for retailers and brand marketers to shower more attention on younger generations than Boomers? Do you feel Boomers are being neglected? If so, what steps should marketers take to ingratiate themselves with Boomers?