New research uncovers shopping behaviors and preferences of these generations wielding substantial buying power
Pleasanton, Calif. – August 14, 2019 – Many businesses are hyper-targeting marketing efforts to millennials and Gen Z, but new research1 released today highlights the shopping patterns of the older, larger core generations: Gen X and baby boomers. Both generations regularly buy via multi-channel experiences, with 82 percent of Gen Xers and boomers surveyed buying in-store at least monthly, and 46 percent of Gen Xers and 40 percent of boomers surveyed shopping online at least monthly. They love to research, are the least likely to be influenced by online reviews and the most likely to have groceries delivered. These are among the findings of the latest research commissioned by global branded payments provider, Blackhawk Network, an authority on retail and consumer insights.
“While marketers should keep their eyes on Gen Z and millennials, they shouldn’t abandon Gen X and boomers. According to research from Epsilon, Gen X and boomers combined still have almost triple the buying power of the younger generations,” said Theresa McEndree, vice president of marketing at Blackhawk Network. “Older generations prefer well-established shopping channels like in-store and online but are willing to try newer options. For instance, they outpace younger generations in buying groceries online for at-home delivery. Considering these preferences helps retail marketers understand how to best reach Gen Xers and boomers regularly and create positive experiences that drive sales.”
Key findings on Gen X and boomer shopper behaviors include:
Gen Xers and boomers love tried-and-true shopping methods.
They’re not afraid to shop online.
In addition to these shopping behaviors, Blackhawk examined generational preferences for and usage of gift cards, a form of branded payment that can help retailers increase reach, loyalty and revenue.
“Retail marketers may not realize they can reach people through payments tools—including branded payments—and gift cards stand out as one of the most effective,” continued McEndree. “Gift cards act like mini billboards in customers’ wallets and can reach people on a very personal level. They can also inform marketing strategy by helping identify touchpoint opportunities, drive specific behaviors and create long-lasting relationships.”
Additional study insights into Gen X and boomer attitudes and preferences toward gift cards include:
Older generations are “traditionalists” and know what they want.
1 The Consumer Research study was conducted by Murphy Research on behalf of Blackhawk Network between February 4 and February 12, 2019. The sample size included 10,126 U.S. adults between the ages of 18–75.
About Blackhawk Network
Blackhawk Network delivers branded payment programs to meet our partners’ business objectives. We collaborate with our partners to innovate, translating market trends in branded payments to increase reach, loyalty and revenue. With a presence in over 26 countries, we reliably execute branded payment programs in over 100 countries worldwide. Join us as we shape the future of global branded payments.
Blackhawk is headquartered in Pleasanton, California. For more information, please visit blackhawknetwork.com.
# # #