Eager to move beyond the recession, marketers are fixing their eyes on customer groups that are said to be at the core of the economic recovery - no, not Baby Boomers, but rather the Gen X and Gen Y segments (with their disposable incomes) as well as the growing Hispanic market. This Entrepreneur article does a great job summarizing both demos.
Gen X and Gen Y: Crave Instant Gratification, New Technology and Gadgets
Gen Xers are generally described as individuals born between 1965 and 1976, up to the late 70s, and Gen Y (also known as Millennial) consumers were born from the late 70s or 1980 to the early-mid 90s. This subgroup generally has a more disposable income and is less likely to have been largely impacted by the economy.
Interesting things to note about this demographic: Approximately 60%of Gen Xers have attended college, though they are more likely to go by the "work to live" slogan over the "live to work" motto that Boomers are often categorized as having. If you are interested in pinpointing this demo with your local advertising and marketing efforts, take note of their preference for texting and online communication (rather than face-to-face or phone).
Latinos: An Ever-growing Demographic With Home and Family Values
In the United States, more than 15 million Hispanics command $1 trillion in buying power. Latinos make up more than 15 percent of the population - an increase of 42% since 2000! According to a recent Nielsen study, Hispanic shoppers spend more on products relating to their children and babies and more on food consumed at home than the rest of the population.
Interesting things to note about this demographic: If you are looking to appeal to the Hispanic demographic with your local store marketing, it's important to ensure that you take into account their unique ethnic preferences and specific cultural differences. For example, according to Pew Hispanic Center's National Survey of Latinos, over 50% of Latinos ages 16 to 25 identify themselves first by their family's country of origin, and an additional 20% generally use the terms "Hispanic" or "Latino" first when describing themselves. If you are interested in reaching this demo with your local advertising efforts, take note that they're the heaviest users of wireless access to mobile phones and laptops.
Check out this article for more pointers on how to make your local store marketing resonate with these budding subgroups.
Gen X and Gen Y: Crave Instant Gratification, New Technology and Gadgets
Gen Xers are generally described as individuals born between 1965 and 1976, up to the late 70s, and Gen Y (also known as Millennial) consumers were born from the late 70s or 1980 to the early-mid 90s. This subgroup generally has a more disposable income and is less likely to have been largely impacted by the economy.
Interesting things to note about this demographic: Approximately 60%of Gen Xers have attended college, though they are more likely to go by the "work to live" slogan over the "live to work" motto that Boomers are often categorized as having. If you are interested in pinpointing this demo with your local advertising and marketing efforts, take note of their preference for texting and online communication (rather than face-to-face or phone).
Latinos: An Ever-growing Demographic With Home and Family Values
In the United States, more than 15 million Hispanics command $1 trillion in buying power. Latinos make up more than 15 percent of the population - an increase of 42% since 2000! According to a recent Nielsen study, Hispanic shoppers spend more on products relating to their children and babies and more on food consumed at home than the rest of the population.
Interesting things to note about this demographic: If you are looking to appeal to the Hispanic demographic with your local store marketing, it's important to ensure that you take into account their unique ethnic preferences and specific cultural differences. For example, according to Pew Hispanic Center's National Survey of Latinos, over 50% of Latinos ages 16 to 25 identify themselves first by their family's country of origin, and an additional 20% generally use the terms "Hispanic" or "Latino" first when describing themselves. If you are interested in reaching this demo with your local advertising efforts, take note that they're the heaviest users of wireless access to mobile phones and laptops.
Check out this article for more pointers on how to make your local store marketing resonate with these budding subgroups.
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