STORES Magazine - June 2008 - (Page 26)

EXECUTIVE SUITE / COVER STORY BY SUSAN REDA, EXECUTIVE EDITOR T hink of a few famous baby boomers. Now, call to mind a few that you know. It’s probably safe to assume that none of the images that popped into your head resemble a generic brown paper bag. Yet marketers and retailers are too often guilty of treating baby boomers as a homogeneous group with uniform attitudes and purchasing behaviors. Ironically, what they end up with is a pitch that is as generic – and disposable – as a plain brown bag. As a group, the 78 million Americans born between 1946 and 1964 is much too large and diverse to share a single lifestyle, life stage, purchasing proclivity or political agenda. And most of them are too wealthy to be ignored by marketers and retailers obsessed by youth. “Boomers still dominate the U.S. retail marketplace,” says Matt Thornhill, president and co-founder of the Boomer Project and co-author (with John Martin) of “Boomer Consumer.” Boomers spend an estimated $2.3 trillion on consumer goods and services annually, yet Thornhill claims that “few retailers 26 STORES / JUNE 2008 fully appreciate today’s older boomer consumer, instead merchandising and marketing to young, less affluent adults. Retailers that fail to acknowledge boomers today — thinking they’re past their spending prime — are limiting their success.” In other words, those who think they know all there is to know about the baby boomer generation need to think again. STORES partnered with the Boomer Project and BIGresearch to determine the five things retailers need to know about baby boomers. BIGresearch supplied reams of data; the Boomer Project provided the insight. Here, STORES offers some food for thought. WWW.STORES.ORG http://WWW.STORES.ORG

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

STORES Magazine - June 2008
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
Online Marketing
Building Traffic
Water Management
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