The generation to which your customers belong, along with their age, can offer potential insight into their attitude, outlook, and experiences, as well as their buying behavior. It’s important to understand what different people expect from a purchase experience. Whether you run a coffee shop that appeals to millennials or a grocery store that caters to all age groups, looking at generational tendencies can help shape your strategy for catering to your consumers. Let's look at how generational identities impact sales.
Generational Definitions
These are the typically accepted ages of the four generations of adults in the USA:
- Millennials: 18-35
- Generation Xers: 36-51
- Baby Boomers: 52-70
- The Silent Generation: 71 and older
Mobile Devices
All four generations are using and making purchases on mobile devices, smartphones, and or tablets, utilizing both browsers and apps to make those purchases. Unsurprisingly, younger generations make up the majority of online shoppers. This information, however, does not mean younger adults are done shopping in brick and mortar stores.
Given the speed and convenience, one could think that millennials exclusively use their devices for all their shopping, but statistics don’t support that. Millennials also see the significance of in-store shopping.
Three-fourths of the generations in question want to see a product in person. Both Millennials and Gen Xers want a tech option and fast checkout because they feel they are pressured for time and have multiple things happening in their lives at once.
Baby Boomers and the Silent Generation are more likely to shop at one particular outlet. Millennials and Gen Xers normally seek out a specific brand, so shopper loyalty doesn’t always mean the same thing across generations. Keep in mind, every generation is receptive to loyalty and rewards programs.
Time is Essential
With most approaching the peak of careers and many having families, Xers and Millennials are pressed for time. Fast and convenient shopping is key. Both groups said that a fast checkout experience is an important factor in their purchase decision.
Bargains Galore
Since many are retirees or empty nesters, Baby Boomers and the Silent Generation aren’t in the rush the younger generations are. What they are focused on is value for their money and product quality. They prioritize reliable, fairly-priced, and budget-friendly products. This is understandable given that many are on fixed incomes.
Universal Practice
While they possess varied objectives when it comes to the shopping and buying experience, each generation relates to brands differently. All generations want secure payment methods, simple brand interactions, and transparent, honest promotions. These are the three most customer-centric factors in choosing where and how to shop. Regardless of generation or shopping method, everyone enjoys great customer service.
Conclusion
Stay on top of trends and implement new technologies and new tactics. Learning more about who your customers are—and more about the customers you want—can help your sales and marketing teams make the best choices for promoting your organization.