Accessorize: Alphabet Soup: Targeting Gen X, Y and Z at Retail
As the product needs and social norms of five generations of shoppers collide, it’s a good idea for CE retailers to evaluate how they’re addressing the changing retail landscape. Today, people of different ages and degrees of tech savvyness are shopping together, and there isn’t one set way of meeting their needs.
As interest and adoption of technology and related CE accessories continues to grow, today’s retailers have a new challenge when it comes to capitalizing on this market: targeting a wide range of individuals at point of sale. Point-of-purchase displays are a great way for retailers to stay relevant and meet the evolving social and product needs of Generations X, Y and Z, as well as the Baby Boomer and Silent Generations.
Each generation has different needs when it comes to technology and CE accessories. Younger generations are more likely to be focused on products that entertain, are cutting-edge and complement their connected lifestyles. Generation X has shown an increased interest in health and fitness tech products, while baby boomers are looking for consumer electronics and accessories that will help them maintain an independent lifestyle as they age.
Embrace the increasing level of comfort your customers have with technology, and make sure you’re using the right channels to target them. Generations X, Y and Z rely heavily on the Internet and social connections to influence purchases, and in many cases they influence the purchasing decisions of their parents. By 2020, the Web will play a role in 68 percent of consumers’ shopping journeys. Mobile searches will become more common—already key for Generation X—as will discovering technology through friends, blogs and social sites. Make sure you’re being represented, both as a retailer and through your manufacturing partners. You should be prepared to meet the social needs of these generations in addition to their product needs.