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BizReport : Loyalty Marketing : January 25, 2017


Baby Boomers feel left out in retailer rush to covet Millennials

Are retailers focusing too much on Millennials and neglecting Baby Boomers? New research in the UK from global loyalty marketing agency ICLP suggests they are.

by Helen Leggatt

According to ICLP's survey of more than 10,000 consumers in the UK, most (82%) Baby Boomers (those over the age of 55), say their favorite retail brand doesn't understand them or their needs. In fact, 95% said they would even consider "cheating" on their favorite retailer by shopping with a competitor that perhaps understands them better.

Just 29% of Baby Boomers said they felt appreciated as a regular customer of their favorite brand, compared to 48% of Millennials. Even loyalty programs appear to be neglecting Baby Boomers. Just 28% said they felt their loyalty was rewarded compared to 40% of Millennials and 34% of Generation X. Three-quarters (77%) of Baby Boomers feel they are not rewarded with offers that are specifically tailored to them.

"At a challenging time for the high street, many retailers are doubling down on their efforts to lure millennial shoppers into their stores and onto their homepages," said Jason De Winne, general manager at ICLP. "This sometimes comes at the expense of Baby Boomers, who tend to be more affluent, but require the same high level of attention that Millennials do to keep them loyal and devoted. It is this demographic which continues to support their local high streets, but are also increasingly tech savvy and spending online - and yet many brands are ignoring them."

So, what can retailers do to make their Baby Boomer customers feel more wanted and loyal? According to the research, three quarters (73%) said they would purchase more if they received better rewards, 47% want brands to acknowledge when things go wrong, apologize quickly and fix the problem swiftly, and 70% said they would spend more with their favorite retailer if the products they sold were more reliable and consistent.

Tags: Baby Boomers, loyalty, research, retail, UK










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