| Boomers Take Their Shopping Habits with Them The traditional view that older people significantly reduce shopping has been challenged by new research in the latest « How America Shops 2004 » study of consumer habits. The percentage of older shoppers, ages 55 to 70, who are « heavy shoppers, » (making four or more shopping trips weekly) increased significantly from 2002 to 2004, moving up from 22 percent to 35 percent, according to the ninth bi-annual How America Shops® study conducted by consulting firm WSL Strategic Retail. « This increased shopping behavior likely reflects the mindset of a new generation of older shoppers, the baby boomers, who are taking their middle-aged spending habits with them, » said Candace Corlett, director of the 50+ Marketing Directions practice at WSL Strategic Retail. I want what I want, where I want it, and at low prices Older boomers have honed their shopping expertise and are now among the most demanding consumers. When asked why they shop particular retail outlets, the three top reasons were, « always in stock, have what I want » (47 percent); « convenient location » (32 percent); and « lower prices » (32 percent). Demographic distinctions that once typified specific shopping outlets continue to blur as all races, income levels and ages now frequently shop many of the same outlets. « More and more it is an issue of you’re only as old as you shop, » notes Corlett. « Age is less likely to be a discriminating factor for retailers; for instance convenience and specialty clothing stores are less attractive to those 55 and older, but they are as attracted as younger shoppers to warehouse clubs, supercenters and specialty stores for beauty and the home. Favorite Shopping Destinations The favorite retail outlets among those 55 and older are: mass merchandisers (shopped by 93 percent), supermarket/combo stores (82 percent), drug stores (78 percent), and home improvement stores (77 percent). When shopping from home, older consumers prefer catalogs to the Internet (41 percent vs. 25 percent). However, the Internet is gaining older converts rapidly, moving up from shopped by 11 percent in 2002 to 25 percent in 2004. « Outside of very specific categories, such as teen clothing, retailers should strive to create ‘ageless’ stores, » noted Wendy Liebmann, principal of WSL Strategic Research, who launched the How America Shops program in 1989. Tracking 12 Leading Indicators WSL Strategic Retail, which has tracked 12 « Leading Indicator » product categories since the inaugural How America Shops study, found net purchase increases by older shoppers in only three categories: prescriptions (+19 points), pet supplies (+22 points), and greeting cards (+4 points). Sales were flat in hair and skincare products, while declines were reported in fashion accessories (-21 points), home decorating (-11 points), clothing (-10 points), beauty care/cosmetics (-8 points), food (-5 points), perfume and fragrances (-3 points), and computers and software (-5 points). « Some of these changes are logical, but others are the result of manufacturers ignoring older shoppers, » added WSL’s Corlett. People over 55 may need more prescriptions and not need to buy as much food, but they are still interested in wearing attractive clothes, and taking care of their hair and skin. Manufacturers and retailers in these categories tend to ignore them are risking declining sales. « We are in an evolving society with more older people who are willing to shop, but selling to them requires a new attitude on the part of manufacturers and retailers alike. » Methodology How America Shops uses a national random sample of 800 consumers, 595 women and 205 men (Total sample, ages 55 to 70, was 144, 105 women) were interviewed by telephone during September 2003. For more information visit www.howamericashops.com WSL Strategic Retail is marketing and retailing consultancy that, since 1986, has assisted worldwide clients to build unique marketing strategies that have maximum impact on the consumer at retail – whether that « retail » is a store, catalogue or the Internet. How America Shops is a registered trademark of WSL Strategic Retail, Inc. Source: WSL Strategic Retail press release, May 12, 2004 |
AgeEconomie – Silver économie – Marché des Seniors
Le Portail d'actualité et d'analyses du Marché des Seniors et de la Silver économie
