We hear about them a lot in the news lately. They have defined and whole trends and industries have been built to target them since they were babies. Who are we referring to? That generation of people born during the 19 years after WII, commonly called the baby boomer generation. At this point in time they make up 27% of the US population but control a much higher percentage of the income and wealth in the US.
The world renowned economist Paul Zane Pilser has studied the buying habits of these baby boomers.
This is basically a synopsis of those buying trends and habits. First they possess a strong sense of awareness of wellness. Consequently they will spend large suns of money to stay healthy and younger looking.
The baby boomers shopping and spending habits are considerably different than their parents. Their parents spent a much higher percentage of their income on the basic necessities of life while the boomers typically have much more in the way of disposable income to spend on wellness products.
The intelligent, savvy shopper will usually gravitate toward the highest quality product their personal finance's will support. The smart consumer has learned a top quality product is usually the superior buy as it saves them money long term as well as being the better performing product. Purchasing a lower quality product is almost never a good buy provided one is able to afford a higher quality version. When having to continually replace products of lesser quality it becomes increasingly difficult to get ahead.
Of course, don't get confused with expensive accessories that add to the cost of an item. These accessories don’t necessarily add any additional quality to an item. For example, you could buy a particular car with or without a navigation system. The quality of the car would be the same with or without the navigation system. However, if most people select this particular option, not getting it may make it less valuable when selling it.
In conclusion one last item concerning the buying habits of boomers concerning consumable, reusable commodities like nutrition supplements and health foods and the like. The sophisticated educated boomer even if their initial purchase of a particular item is not the highest quality, once they determine they like that item they will move up in quality with their purchases. And of course they tend to stay with the higher quality item as they simply like it better and/or realize it's their best and truly least cost item over it's lifetime.
Plus who wants to settle for second best when they can have the best and pay less in the long run. If you want to become like the wealthy and savvy you must model their traits and habits and one of those is always selecting the highest quality and best quality products and merchandise they can possibly afford.
This explains why we as a merchant have made a decision only to offer products of the highest quality along with providing superior service. We realize you have choices and know that once you're tried our high quality products you'll be back and we're not going anywhere.
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