Customer Success. Technology Partners. Solution Partners. Dev Center. Help Center. Content Library. Book a Demo. Most recent Development Marketing Roundup. Most recent. Select a category. Millennials vs. Baby Boomers: Consumer behavior and how it influences promotions. Henry Bewicke. Businesses should be aware of these differences. They can have a big influence on which promotions and sales tactics are most effective for each group. Baby boomers The baby boomer generation was born in the post-war years stretching from to Every promotion is possible.
Get the most out of your reward programs. Baby boomer consumer characteristics As of , baby boomers range in age from 57 to In general, baby boomers tend to look for the following: Businesses with friendly, helpful in-store sales representatives Fully-trained customer support staff that they can talk to over the phone even though they prefer face-to-face interactions Good value for money Millennials Millennials sit a generation apart from baby boomers, with Generation X falling in between.
So, to recap There are distinct millennial consumer behaviors and there are distinct baby boomer consumer behaviors. Best Practices for loyalty programs. How to gain a competitive advantage. Your definitive guide to loyal customers. Promotion tips. Industry insights. Download Your Talon. One Loyalty Playbook. Download Your Free Playbook.
Most relevant articles. Influencing Consumer Habits with the Help of Promotions. Get Your Free Playbook. Keep reading related stories. One GmbH. Here are some ways they can get started:. For more ideas on how to reach millennials and boomers, read the full report. This post is sponsored by Synchrony Financial. Find out more about Sponsored Content.
World globe An icon of the world globe, indicating different international options. Get the Insider App. Click here to learn more. A leading-edge research firm focused on digital transformation. Good Subscriber Account active since Shortcuts. Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile. And overall, when Millennials shop for something both online and in a store, they are much more likely to make a purchase in a store than they are online.
But while the myriad of online stores and buying options today have offered Millennials the ability to be more selective with their purchases, the options can get overwhelming as Millennials actually tend to prefer browsing for products across brands rather than settling on an option and purchasing it.
Seeing shopping as a social event is another trait that strongly characterizes the Millennial market and sets it apart from older generations. In stark contrast to Baby Boomers, research shows that Millennials enjoy shopping and see it as fun and relaxing activity to be shared with friends and family. According to Gen Buy , the grand majority of Millennials report that they shop with other people at least half the time, and 60 percent consider advice from their friends when deciding what to buy.
Of course, the social consumer experience is not only limited to shopping mall excursions but social media as well: 68 percent of Millennials admit to being strongly influenced by social media posts while 84 percent say user-generated content has at least some influence on what they buy.
Retailers should recognize that social media is extremely important to Millennials in their purchasing journey because even though they value the opinions of family and friends, they seek out the experiences of other consumers above all.
Like Gen X, Gen Y is also skeptical of overbearing marketing tactics. Millennials are also likely to interact with brands and retailers through social media sites such as Twitter and Facebook in order for their voices to be heard. Gen Z uses their plethora of Google resources to compare prices, styles, availability, and ratings of products to make the most educated purchase possible.
While much of their research is digital, Gen Z still enjoys visiting stores as a social excursion in the same way Millennials do. In fact, 84 percent of Gen Zers intentionally structure their shopping trips a social activity and wait to accumulate a solid list of wants and needs before visiting stores with friends. Like Gen Y, Gen Z is also likely to contribute to consumer-generated content for brands by voicing their comments and concerns online and by seeking out interactions with brand representatives.
In this sense, Gen Z consumers sharing brand content on social media can easily be considered unofficial brand ambassadors. Despite being inundated with digital content, Gen Z still prefers to shop in-store versus online, but they crave a store that can keep up with their tech more than anything. Additional research shows that other wallet-friendly incentives, such as coupon offers all generations love coupons, are also a great way to bring Gen Zers in store.
Considering how Gen Z and Gen Y both still shop both online and offline, and reportedly more so than older generations, retailers need to prioritize enhancing both groups shopping experiences by appealing to their affinity for technology and perspective on shopping as a social enterprise.
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