Generationally Speaking: Shopping Habits

Generationally Speaking: Shopping Habits. PFI’s custom-branded display and merchandising solutions are used by Fortune 50 B2C companies, small independent retailers, and craft consumer brands. We work closely with our customers and strive to add value by following and understanding the issues and trends that affect them. In this blog post, we take a closer look at the differences among the five main retail shopping generations.

With five generations making up most businesses’ customer base, it’s important to realize that one size doesn’t fit all when it comes to retail practices and point-of purchase displays. When considering your retail displays you should take into consideration the makeup of your store’s unique clientele. Here, we’ll give a brief description of what some of your customers might “look” like.

Not surprisingly, this generation, who grew up following the Great Depression and experienced World War II, is the most frugal of the bunch. You won’t catch them “wasting” money dining out or making frivolous or impulse purchases. They tend to shop with brands they know and trust. To engage these shoppers, you should appeal to their practicality and focus on value. Unlike other generations, who prefer shopping online or self-checkout, the Silent Generation relies on the expertise of a sales associate. They are also more responsive to print ads rather than mobile.

You might expect this segment of shoppers, raised by the Silent Generation, to have inherited their parents’ frugality. Well… yes and no. Boomers are famous for their tendency to save and spend wisely. They have a difficult time understanding why the younger generations wastefully spend on unnecessary things such as dinners and coffee. They care more about product quality and value than brand. While many are completely comfortable shopping on their laptops, technology isn’t a top priority for them. Boomers (and their grandchildren, the Millennials) are greatly influenced by in-store promotions.

This is the first group to grow up with email, the internet and, later, e-commerce. Now, they’re employed and likely have a family with children, so they lean toward quick and efficient shopping experiences. They want what they need when they need it. Retailers should focus on solutions that save time for these shoppers, like the options to order online and pick up curbside.

Numbering more than 83 million, Millennials are the fastest-growing, most diverse generation of consumers in the United States. They’ve grown up being advertised to more than any generation before them. Most importantly, however, Millennials have grown up with more ways to buy and pay for products and services than any previous generation. The way in which they shop is forcing retailers to re-think the rules for sales and marketing. They use technology in practically every aspect of their lives. Their mobile devices are always handy for price comparisons and product reviews, and they rely heavily on word-of-mouth marketing via social media. The overall brand experience matters a lot to Millennials; they want to feel connected. To win Millennials’ dollars, brands should have strong social networks.

The people who make up Generation Z have never known life without the internet. So, while it might be tempting to think this new generation of shopper would strictly be online only, that assumption couldn’t be further from the truth. They’re true “brick-and-mobile” shoppers, meaning they do their research online and purchase in store. According to Chadwick Research an amazing 70% of iPhone owners reported using web access or a specific mobile app for assistance while shopping. The importance of a retailer’s online and mobile presence cannot be overstated here. This new generation of customers is very technologically savvy and is estimated to account for more than 40% of all consumers by 2020.

Here at Presence From Innovation, we know what it takes to drive sales using product merchandising. Let us help you with our vast collection of well-developed, effective retail displays. Contact us today and let us help you to bring your retail business’ earnings to their full potential.