STORES Magazine - June 2008 - (Page 28)

EXECUTIVE SUITE / COVER STORY Boomers Are Zealous About Media They surf the ’net. They use e-mail and they instant message (IM). Some baby boomers blog, some use iPods and many have PDAs. Yet enthusiastic as they may be about embracing new media, they haven’t abandoned their “old” favorites. They still read the newspaper and listen to the radio, and research shows boomers use both old and new media to make purchasing decisions. A whopping 95 percent watch TV, with 77 percent of their viewing occurring between 7:30 and 11 p.m. Two-thirds of boomers subscribe to cable TV, but they’re selective about what they watch; data shows they’re most likely to be tuned into Discovery Channel, A&E, the Food Network, ESPN and Fox News. They love to watch movies, police shows, documentaries and situation comedies. Reality bites for this generation; they click right past “The Bachelor,” for example. On average, 76 percent of boomers listen to the radio – more than any other demographic; morning drive-time is when most (49 percent) are tuned in. What they listen to varies widely, from oldies to country to talk formats. Consistent with their proclivity for experimenting with new media, 6 percent subscribe to satellite radio. Proving that newspaper reading can be a hard habit to break, 57 percent of boomers say they read their local daily newspaper regularly; 68 percent read their weekly community paper. But it will surprise some to learn that 87 percent surf the Internet, spending an average of 123 minutes online daily. 3 What are they doing online? Ninety-three percent regularly or occasionally use the Internet to research products prior to purchase. Almost half (46 percent) say searches are triggered by traditional advertising or an article they’ve read; nearly as many (45 percent) are prompted by television or other broadcast media. B oomer Project Buzz: Boomers are using all forms of information gathering available to them, and so should marketers. Those that discount new media – assuming that boomers fail to use it – are making a big blunder. Grandparents Are Nana From Heaven Grandma and Grandpa don’t look the way they used to. It’s no wonder. The average age of a boomer grandparent is 53.4 years old, which by today’s age standard – 50 is the new 40 – means they’re young and hip, not to mention well off and doting. Data shows 38.4 percent of boomers are grandparents. In real numbers, that translates to roughly 28 million, with another two million set to join the ranks for the first time in 2008. More than three-quarters (76.5 percent) of boomer grandparents own their homes, and 46.4 percent generate more than $50,000 in household income. Still, they tend to be a frugal bunch; more than a third belong to Sam’s Club, compared with 27 percent of all adults. Nearly four in 10 eat at a fast-food restaurant four or more times a month, and 24 percent say McDonald’s is where they eat most often. There’s nothing sedentary about boomer grandparents’ lifestyle. Thirty-five percent say they exercise three times a week, and 10.6 percent plan a major home renovation in the next six months. Half say that in the face of rising gas prices they plan to drive less – yet among boomer grandparents looking to buy a new car, 20 percent are considering a truck and 25 percent have their eyes on an SUV. Over one-quarter of boomer grandparents plan to spend 4 28 STORES / JUNE 2008

Table of Contents Feed for the Digital Edition of STORES Magazine - June 2008

STORES Magazine - June 2008 Contents Executive Editor's Page President's Page Tesco Tests Carbon Labels What Shoppers Think 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Cover Story: Boom - or Bust Green Retailing Concept2Watch Online Marketing Building Traffic Water Management Branding Digital Marketing Loyalty Programs Special Report: Taking on Teens Supply Chain - Robo Crop Human Resources Supply Chain - Directory Assistance Loeb Retail Letter Arts Update Point of View NRF News Retail Crossword Retail Industry Calendar Last Laugh

STORES Magazine - June 2008

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