When it comes to retailing, it’s easy to get distracted by the hype about
selling to the upcoming Gen “Y”ers/Millennials (see Florists’ Review January
2010 issue, Pages 79-88) or Gen “X”ers. That’s fine if your products are meant
for these groups, but if your target market is baby boomer women, you’ll need to
operate quite differently from the current practices of most retailers.
The good news is you’ll likely be richly rewarded. Baby-boomer women (currently
ages 45-63) represent not only a massive portion of the North American
population but one that will inherit more wealth over the next decade. The
challenge for retailers targeting boomers is that this group is becoming fed up
with the hassle factor of typical retail shopping.
Boomer women are busier than ever. They spend most of their waking hours
working/commuting and dealing with their Millennial children who appear to never
want to move away the concierge service they receive at home. At the same time,
boomer women are caring for aging parents. They’re run ragged. In today’s soft
economy, they may not be buying luxury, but they’re still buying quality. The
implications for retailers targeting this group are severalfold:
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Florists’ Review