Target Baby Boomers 2.0 – How to Increase Customer Retention and Brand Loyalty in This Market Space
There has been a lot of buzz in the news lately with regard to the habits of millennials when compared to baby boomers. It is undeniable that generational trends dictate market trends, and so keeping up with change is critical. That being said, it is important not to alienate one generational group in exchange for another, and it is crucial to cater to all groups while recognizing that baby boomers continue to represent a large segment of shoppers who regularly visit bricks and mortar stores and continue to exhibit a higher level of brand loyalty when compared to younger generations.
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By marketing to the baby boom generation properly, customer retention and brand loyalty can lead to increased profitability. But how?
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Baby boomers are apt to exhibit brand loyalty – you just have to hold onto it. Baby boomers remain the most loyal generation, especially when it comes to CPG brands. A recent marketing study done by Jefferies and Alix Partners found that 61{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of baby boomers said that brands were important in their purchasing decisions for groceries (compared to only 47{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} for millennials). Those products that baby boomers have continued to favour over the years are not disregarded easily, making customer retention and brand loyalty much easier with this generation. Store Support – Read more…
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