How Retailers Can Re-Engage with the Boomers

By: Retail CIO Outlook | Wednesday, February 19, 2020

As retailers are developing their physical and online channels, it is necessary that they prioritize and accommodate the increasing boomer opportunities.

FREMONT, CA: Most of the time millennials are burdened with student loans and also the expense of supporting their families, but the boomers have an income that they can spend while purchasing from in-store and online. Nowadays, the boomer is also going through several life events like getting divorced and remarried, caring for elderly parents, empty nesters, and becoming grandparents, which provide retailers with various opportunities.

Since the retailers are developing their online and physical shopping channels, they must generate a strategy that will speak about their increasing demographic. The boomers are healthier, active, and live longer than ever before. The female boomers making decisions about their household shopping not only buy services and goods for them but also append their time on children, grandchildren, and aging parents.

To Increase Loyalty Personalization and Engagement is Necessary

It might not be useful for retailers to insult this huge underserved market because the stereotype about them that they are price-sensitive, not interested in the latest trends, and are reluctant to switch the brands is not valid. For the business to gain profit from the segment of boomers, they must represent them as engaged, educated, and active because this older population has varied demographics, lifestyle, and economical.

Moreover, the smart retailers are also dividing the loyalty database so that they can understand and personalize the media and marketing for the boomers.

The Experience of Store Matters

The boomers have a preference for buying their products from brick-and-mortar stores. Although the young consumers, most of the time, prefer mobile apps in-store, the boomers like the personal touch and value a friendly in-store service that has a flexible return policy. Moreover, the boomers also like to walk in a clean and organized store that has wide aisles.

If the companies want to meet the expectations of the boomers, they have to become more accessible, and that can be done by updating their signage, layouts, and other features so that the customers can experience a comfortable shopping.

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