According to a recent Bloomberg report, the global Generation Z population (born since 2001) will nudge ahead of Millennials (1980-2000, the range used in this study) for the first time in 2019. As the future progresses, this is increasingly good news for higher tech “gig” industries and gadget makers trending upward with online sales and services like “final mile” delivery.
But what about the Baby Boomers? Forbes Contributor Tom McGee reported in mid-August that this demographic segment is very much alive and well in the US, as 10,000 Baby Boomers turn 65 every day. Citing a 2016 Visa projection, “consumers over age 60 will continue to dominate U.S. consumer spending in the coming decade.”
McGee also points out that “the generation that grew up on Main Street” is retiring later and spending more. Downsizing empty nesters, for example, are helping drive a resurgent housing market. That, in turn, helps drive sales of everything from tables and chairs to pots and pans.
This where retailers need to pay particular attention to store layout and making featured products attractive, desirable, and accessible. Making the shopping experience pleasurable and a breeze to navigate can prove to be a winning formula when appealing to this growing consumer market.
Part of McGee’s thesis speaks directly to floor layout in an area we know well: updated signage. More specifically, how to make that signage resonate with buying eyes.
One of the keys to locking shopper focus on product specials depends on eye-appealing point-of-purchase (POP) displays. And sometimes the most effective display employs the KISS method – Keep It Simple Stupid. Literature should be easy-to-read and prominently showcased in strategic foot traffic patterns.
If you’re in retail and looking to capture sales in the Baby Boomer demographic, take a look at the latest in Clear Sign Holders and eye-catching Acrylic POP Displays, including multi-sided options. Such selling opportunities are not to be missed!