Baby Boomers and Retail: the Need to Re-Engage the Forgotten Generation
Over the last few years, advertisers have rushed to woo millennial consumers, leaving their older counterparts feeling overlooked or alienated. According to a recent study by Hitachi Consulting, almost three-quarters (74%) of stores are increasingly focusing their services on 19-38-year-olds, in a bid to capitalize on mobile and digital spending, as well as capturing the long-term loyalty of the next-generation of shoppers. This means that brands and retailers are ignoring or irritating more than a third of the UK population, with more than 23 million people aged over-50 according to the Office for National Statistics (ONS). Retailers and marketers are currently putting all of their eggs in the millennial basket and forgetting that they are not the only generation with money and spending potential.
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