OK Boomer!
Let’s break it down. Baby boomers are the ones born between 1946 and 1964. This is the generation that has already retired or are in the verge of retirement, still follow traditional ways of consumption – be it media (cable TV, newspapers etc) or products and use technology mainly to stay in touch with family and friends.
The next generation, classified as Generation X, are the ones born between 1965 and 1980. This generation understands and may even be habituated to traditional means of consumption but are better positioned to adapt to the digital world. They are the ones who are trying to raise a family as well as taking care of ageing parents, are managing debts and feel the need and urge to save for the future. Therefore, when it comes to shopping behaviour, they appreciate value for money. According to eMarketer, 86% of Xers said they would try a new brand if offered a coupon or discount.
Many Gen X shoppers are choosing from both online and offline coupons with the best deals winning out. They are also seen to have a high affinity for the brands they trust and tend to have the highest brand loyalty amongst all the generations of shoppers.
Unlike the Baby Boomers, Gen X are comfortable using both digital as well as traditional platforms, giving retailers and marketers more flexibility in reaching out to them. During the pandemic, a good chunk of Xers didn’t use their disposable income that they would have used otherwise so some major purchases including cars, home, or travel can be expected from them in the months to come.
So what could work for this cohort of customers would be direct and straightforward communication on multichannel platforms, discounts, cashbacks and bulk offers and strong loyalty programs that rewards in brilliant value for money.