It highlights behaviour of Gen X, Gen Y and Elderly and buying behaviour

1. Consumer Behaviour Gen X, Gen Y, and The Elderly: Impact on Retail

5. One Example To Sum It Up

6. Differences Relevant to a Retailer

7. PARAMETER GEN X GEN Y ELDERLY Consumer Type Sincerity appeals Smart (aware) consumer Motivated Consumer Role in family Decision makers and Information Gatherers Strong Influencers Decision Maker Media Habits TV strongest medium TV, Internet Newspapers a widespread medium Purchase Behaviour Materialistic/cynical Savvy ,Pragmatic Narcissist, Consumption Oriented Technology Use technology Assume technology Have technology Price – Quality Price Oriented Value oriented Conspicuous Consumption Attitude towards Brand Rebel against hype Rebel against hype Respond to image building type Loyalty Not really: Attitude of getting the best deal As long as convenient Brand Loyal Diversity Accept Celebrate As a cause Shopping Behaviour Self reliant / individualistic Self-inventive / individualistic Mass movement Appealing themes/ Products Beverages, snacks, footwear and music Entertainment / Clothes and accessories, health Groceries, household necessities

9. Step Elderly Generation X Generation Y Problem Recognition Only resort to necessary purchases, less exotic or luxury items, simpler lifestyles Self-aware, will try to upgrade lifestyles, but still conservative More self-aware and more interested in maintenance and recent trends Information Search Extensive in case of high-involvement or high-risk products Rely on traditional ATL advertising (TV ads) plus the Internet, occasionally seek peer groups Extensive across categories, seek information on Internet, from peer groups Alternative Evaluation and Selection No interest in fashion, high-end items must represent value for money Less interested in trends and more stinted in overall spending Spend more freely and show more interest in fashion and style Outlet Selection and Purchase Prefer locations that give good buys and encourage touch-and-feel i.e. where they can get a better first-hand experience Trade off between time spent shopping and desire to make a good buy. A mix of multi-brand outlets and convenience stores. Prefer exclusive outlets for up –market items such as durables due to their exclusivity, but otherwise prioritize convenience and reduced shopping time Post-Purchase Processes Likely to grudge purchases that are not necessary or value for money Moderate dissonance, even on reasonable purchases Less likely to experience dissonance due to self-confidence and extensive information search

10. Step in Decision Model Key Trait or Constraint for Retailer Problem Recognition Consumer self-awareness, interest level in style and fads Information Search Right level of information for a given category, increasing use of Internet and non-traditional media Alternative Evaluation and Selection Price, value for money, interest in style Outlet Selection and Purchase Convenience, number of brands available, exclusivity Post-purchase Processes After-sales service, service experience Implications for Retailers

11. The Ideal Retail Mix