Make a Boom

October 31, 2012  by in UnCategorized   

By Home Furnishings Business in on November 2012

Welcome to our annual consumer issue where we take a look at those finicky target customers of retail, and do our best to dissect them into a meaty morsel that makes a bit of sense.

Throughout our relatively short life as a publication, we€™ve delved into the Latino consumer, the down-and-out consumer, how to speak to her, and what makes her tick. Last year, we looked at the tricky younger generations of X and Y, and the potential for communication misfires when marketing to that persnickety group.

This year, we thought it perfect timing to examine the inner workings of the Baby Boomer generation€”that huge slice of the consumer pie that wields the largest collection of 100,000-plus household incomes of any age group. According to the stats, Boomers€”folks born between the years of 1946-1964€”make up a healthy 39.5 percent of the population.

While a chunk of those are headed into retirement and may not be looking to refurnish their home, some of those retirees could be in the market to furnish second homes at their favorite get-away spot. (Mine is destined to be on the coast when my time comes! Salt water runs through these veins.) Or, some may be helping kids feather a first nest.

Another batch of those Boomers on the other end of the spectrum, like my husband, is still working.

For the record, I€™m a staunch, proud Gen Xer married to a Boomer, and the two of us are working hard to raise three productive members of the Millennial generation while investing in our nest egg for that coastal retreat.

So what all does it mean for furniture retailers eager to snag some of that Boomer cash?

Well, for the consumers looking to remodel, refurnish and feather, you€™re in luck as long as you€™re on target with the right marketing message.

For the Boomers who aren€™t necessarily in the redecorating state, they may instead be finding themselves€”how to say it politely€”plagued by a few aches and pains of aging. OK, maybe that wasn€™t so tactful, but it is true. The older we get, the more our bodies sometimes creak and groan.

The good news here for you retailers out there is that those achy joints crave for easy-out-of chairs, comfy supportive beds and right-sized furnishings for sometimes smaller spaces. All relevant wants and needs.

The key to meeting the needs of these consumers is to ensure you have the product they want.

Inside, we offer some insight and tips from experts and retailers who have been successful at filling the niche. Happy reading.
Enjoy!