If you know your consumers, miracles happen. Now, all have an acceptance of the Internet, and it makes the opportunity to understand every type of audience more complicated. Choices, preferences, attitudes, lifestyles, values and interests of people change as they transition from one generation to another. That’s why it’s important not to lose sight of the specificities of every generation.
So, let’s start with the oldest one.
Now baby boomers are 55+ years old. They were born before all technologies, Smart TV, Internet and mobile phones, etc. Many people don’t take them seriously, but they should because 35% of the US baby boomers population controls 70% of the US disposable income and takes 40% of all worldwide markets.
Many people mistakenly believe that baby boomers go shopping only to the store and market, but they use online shopping too. The difference is in the device they use: Almost 31% of them prefer using laptops over phones. According to Nielsen, 57% of baby boomers use tablets compared with only 35% of millennials.
Of course, boomers use social networks. 82.3% of baby boomers belong to at least one social media site, but it depends more on personality; it’s not easy and expensive to reach all of them in one social media. The most effective way to reach baby boomers is through search engines. Most of their actions are inspired by what they see on search engines rather than social media, banner ads, websites, videos, or any other form of digital marketing.
Of all generations, they are the only ones not afraid of long reads. Moreover, reading is a common way to get information, and baby boomers used to read a lot about products, like a newspaper.
This also applies to stocks; they still prefer paper brochures and are not too lazy to cut coupons. For this generation, the least important thing is the appearance and packaging of the goods because the priority is the practical benefit. Therefore, if a boomer likes your product, then you will get the most loyal customer.
The children of baby boomers in the age of 45-54 years old make up more than 30% of the American population and have vast purchasing power. 93% of them are active internet users, use all social networks and all kinds of devices. They spend more time per week on all devices—21 hours on smartphones, 9 hours on PCs, and 4 hours on tablets—than millennials do. Since the life of this generation is divided into before and after the Internet, the readability of interfaces and intuitive gadgets and applications are important for Generation X.
Generation X has adapted equally well to online and offline shopping and usually use both of them. That’s why we shouldn’t forget about traditional media.
It’s useful to note the relationships between Gen X and brands: 41% of them follow brands on social media for contests, and 58% follow brands for deals and promotions, becoming loyal to brands that offer rewards. But brands, in turn, do not pay enough attention to them, preferring the youngest Generations Y and Z, which makes 54% of Gen X frustrated that brands constantly ignore them.
Generation X is the most stable generation; it concerns all: income, needs, desires and amount of spending. 35% of Gen X have a college degree; therefore, they have a higher income and a lot of spending power.
GENERATION Y OR MILLENNIALS
The largest generation, because they include two age categories: 25-34 and 35-44 years. Millennials make up 21.5% of all Internet users. The primary source to discover new products or brands is mobile: over 25% use it with that aim. Moreover, 28% of millennials are smartphone-only internet users.
According to a recent survey, Millennials were the generation that is most influenced by celebrity bloggers advertising apparel on social media platforms. And 30% of millennials communicate with a brand on social media at least once a month. Social media is the best way to reach millennials and the reason is statistics: 60% of millennials prefer to buy items from the brand’s official social media, but it’s important not to overdo it. 21% of millennials unfollow brands because of having a bad experience and 22% because they found a brand’s social marketing too annoying.
Millennials lead a socially active lifestyle, and unlike X, they often attend entertainment and eat out. The most important criterion for Generation Y is quality. Millennials are choosy about their food choices, willing to pay for high quality, and this is not only about food but also service.
The youngest generation is 12-24 years old. It is said that they “have already been born with a phone in their hands,” and this is true. 98% of this generation has a smartphone, and they receive it earlier than Gen Y.
Generation Z prefers video as an ad format, and 73% of Gen Z make purchases based on recommendations on social networks. Surprisingly, most of the product reviews are written by this generation and, like millennials, spend a lot of time reading them when choosing a product. They prefer offline shopping in all categories of purchase because it is also a leisure option. When shopping online, Gen Z prefers to use dedicated apps rather than the mobile version of the site.
Generation Z is the undisputed driver of the market in terms of trends, but they still lack funds for full participants in this process. By their age, Zoomers have the smallest demands and the smallest wages. However, despite this, they spend more than all other generations on food outside the home, entertainment and, of course, clothing. Unlike other generations, they do not see anything shameful in living with their parents after adulthood; perhaps this is the reason for such high spending on food in Generation X.
As we said at the beginning, “If you know your consumers, miracles happen.” Now you know that boomers not only walk the market, but they also know how to use a computer. And Gen Z, albeit in the direction of the development of industries, are rather inexperienced. Knowing the habits and preferences of your audience, it is much easier to build the right strategy for promotion.