Advice for CPGs Targeting Four Key Generations: Nielsen

The Nielsen Co. has analyzed the shopping habits of four key generations and has offered recommendations for consumer packaged goods marketers to improve in-store marketing aimed at each of these age groups.

Understanding the groups—Greatest Generation, Millennials, Millennial and Gen X and Boomers and Greatest Generation—can help marketers optimize product assortment, pricing, promotions and advertising.

Greatest Generation consumers, shaped by the Great Depression and World War II frugality, are the most frequent shoppers and more deal prone than other age segments.

Advice for CPGs Greatest Generation is less likely to enjoy shopping than any other age cohort – – yet also the most likely to walk up and down each aisle on a shopping trip, thus extending their time in-store. As a result, merchandising opportunities to pepper products that appeal to older consumers should be pursued.

Millennials don’t like to waste time in-store, shopping less than other age groups buy buying more per trip as a result.

Advice for CPGsMillennials enjoy shopping but are less likely to shop the entire store. Engaging this “in and out” shopper with products such as music or other in-store entertainments could extend their time in stores and get them to shop more aisles.

Millennial and Gen X shoppers favor mass supercenters and mass merchandisers over more traditional formats like grocery or drug stores which remain a draw for the Greatest Generation and Boomers.

Advice for CPGs Time is a precious commodity for the Gen X group, and child care activity centers or computer kiosks would keep kids engaged while parents shop.

Boomers and Greatest Generation shop club, dollar and convenience/gas channels more frequently.

Advice for CPGs Boomers are big spenders who would likely welcome monthly or quarterly cash-back savings programs that reflect spending levels. The Greatest Generation are savvy shoppers, spending most of their online time using email and message boards, providing ready avenues for delivering targeted offers and initiating value-add discussions about health issues and special wellness programs.

Nielsen further indepth analyses the groups and marketing to them in its blog.

Greatest Generation: born prior to 1946 (64 + years of age in 2009)
Boomers: 1946 – 1964 (45 to 63)
Gen X: 1965 – 1976 (33 to 44)
Millennials: 1977 – 1994 (15 to 32)