Generation Y vs. Baby Boomers: Shopping behavior, buyer involvement and implications for retailing

Anders Parment

Journal of Retailing and Consumer Services, 2013, vol. 20, issue 2, 189-199

Abstract: This paper presents some significant empirical findings about generational cohorts and their shopping behavior. Marketing has long relied on the use of market segmentation. While birth age has been a useful way to create groups, it describes segments but does not help to understand segment motivations. However, environmental events experienced during one's coming of age create values that remain relatively unchanged throughout one's life. Such values provide a common bond for those in that age group, or generational cohort. Segmenting by ‘coming of age’ age provides a richer segmentation approach than birth age. This study compares two significant cohorts: Baby Boomers and Generation Y, with respect to their shopping behavior and purchase involvement for food, clothing and automobiles. For the three types of products, Baby Boomers value the retail experience and in-store service higher than Generation Y. For Baby Boomers, the purchase process starts with a retailer the consumer trusts, who gives advice for choosing the right product, while for Generation Y, the purchase process starts with choosing a product. This study presents implications for retail strategies that have an appeal to different generational cohorts and considers how retailers should deal with building customer relationships.

Keywords: Generational cohorts; Generational marketing; Market segmentation; Generation Y; Baby Boomers; Consumer behavior; Purchase involvement; Retail strategies (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (42)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joreco:v:20:y:2013:i:2:p:189-199

DOI: 10.1016/j.jretconser.2012.12.001

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