Marketing to Gen X
Shopping Habits
The difference between Gen X and Generation Y is that they depend on factual information to make shopping decisions. This is in contrast to the younger demographic group that tends to depend more on peer review and recommendations before making a purchasing decision. Gen X consumers go on with the task of shopping, bearing in mind their own understanding of the prevailing markets. They go ahead and use the Internet to confirm either their suspicions or opinions towards your brand. Additionally, Gen X is largely inclined toward finding information on their own to ensure that marketers do not take advantage of them. For this generation, getting the most valuable deal is an important consideration when shopping for products.
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Generally, Gen X is more inclined to shop with brands that offer extra services that accompany the product or service they purchase. For instance, you can consider offering discounts, coupons and other incentives when conducting a campaign for your products.
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E-commerce is also very popular with this market segment. Most Gen X online shoppers will make use of local ecommerce platforms to purchase products. Platforms such as Amazon.com and eBay are especially popular with Gen X. These consumers rely on customer reviews as well as the comprehensive product descriptions to make a purchasing decision.
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Gen X is the generation that has the highest smartphone penetration and make up the highest percentage of purchases online using their smartphones.
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Marketers who are looking to leverage Generation X shoppers should cater to their need for information and target them via the channels they use the most. The bottom line is that this segment cannot make a purchasing decision without the requisite information. To expedite the process of decision-making, it is a good idea to provide them with as much information as possible. It is also best to use both traditional and online channels of advertising to reach out to this group. This is in contrast to Gen Y members who mostly conduct their shopping using mobile devices and make purchasing decisions based on reviews and opinions.
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Studies show that Gen X, especially those aged between 33 and 34 years are prolific online shoppers. In North America alone, this particular segment comprises of up to 80% of users who purchase goods online. This is quite a significant contrast to those aged between 18 and 32 years where only 32% of those in this age group engage in online buying.
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It is also notable that in addition to making online purchases, Gen X is also the most dominant group participating in online banking as well as financial based mobile transactions. This can be attributed to the fact that Gen X makes up most of the active workforce. They are more established in the workplace than Generation Y members are; they are also more savvy in technological and mobile transactions that the Baby Boomers are.
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