Over the last years, marketers have adapted to the boom of technology and the appearance of new various marketing channels, while considering how different generations of consumers are responding to these changes, from research to purchase and buying habits.
Check out some of the factors that influence the purchasing decisions for Centennials: Gen Z, Millennials, Gen X and Baby Boomers, in and out of the holiday season:
Generational Shopper Profiles:
- CENTENNIALS: Gen Z – (ages >21)
- Brand loyalty: 57% said that the quality drives their loyalty to a brand more than else.
- Purchase drivers: based on product quality for 50%, free shipping for 59%, brand prestige for 11% & special experiences like in-store events for 4%.
- Shopping habits: 28% are quality-first shoppers.
- Channel preferences: 56% values mobile apps, 46% email, 56% display advertising & 42% values social media.
- MILLENNIALS : (ages 22-37)
- Brand loyalty: 22% remains loyal to a brand because of its loyalty rewards and 15% for the company reputation or philosophy.
- Purchase drivers: 15% based on points which influence their most recent purchase.
- Shopping habits: 34% are price-first shoppers and another 34% are quality-first shoppers.
- Channel preferences: 67% values email, 61% values mobile apps and 50% values social media.
- GENERATION X: (ages 38-52)
- Brand loyalty: 55% remains loyal to a brand because of the price, 45% because of the quality and 23% because of the convenience.
- Purchase drivers: Based on discounts (price) for 85% & product quality for 45%.
- Shopping habits: 44% are price-savvy shoppers & 25% are quality-driven shoppers.
- Channel preferences: 59% values email.
- BABY BOOMERS: (ages 53-71)
- Brand loyalty: 62% remains loyal to a brand because of the price, 30% because of the convenience & 21% because of the product variety.
- Purchase drivers: Based on convenience for 36% & meeting their immediate needs for 25%.
- Shopping habits: 50% are price-savvy shoppers & 16% are quality-first shoppers.
- Channel preferences: 59% values direct mail while another 59% values email and only 19% values the social media.
Data were driven from 1,004 consumers who have received a marketing email in the past year. The survey took place between 14 & 15 March 2017. The consumers were from all generations by equal ratios. 54% of them were females and 46% were males.
For more information, please download “A Marketer’s Guide to Reaching Each Consumer Generation” full report.