Sweeping judgments are often made on the basis of age, but are today’s stereotypical ‘older shoppers’ set in their ways and unlikely to be a target opportunity for anything new?
“Not at all,” says Danielle Pinnington, managing director at research agency Shoppercentric. “A significant proportion of over 60s are now behaving and sounding like much younger shoppers.”
The older demographic has money and time available and is just as demanding as other shopper groups.
Pinnington says: “It’s important that you target them wisely. In many categories however, they don’t need to be marketed to any differently from younger generations.”
The best way for retailers to attract attention from older shoppers is to focus on value, she adds. “To some degree, bargains are important for this group, but it’s not all about cheap prices – older shoppers take a long-term view of their spending, often aiming at quality, not quantity.
“Value is also more than low prices for these shoppers, and you’ll need to present a value story that is relevant to them in order to meet their needs and persuade them to part with their money,” Pinnington says.
Older shoppers have changed and retailers need to tune into that. Pinnington says: “Just don’t assume that they need to be treated like OAPs – they are bright, intelligent shoppers.
In fact, many will have researched their purchase online, and be looking for advice rather than hand-holding - exactly the same as other younger shoppers. Look to add value where you can.”
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