SUMMARY: Understanding shopping and media habits at different ages can help marketers optimize critical assortment, pricing, promotion and advertising decisions by crafting targeted strategies and niche offers that reflect deal propensity, trip frequency, channel predilection, average spend and media usage.
- 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)
Research suggests that owning a pet can stave off loneliness and lower blood pressure. Apparently, the Greatest Generation got the message, which may account for the average $198 in annual spending among pet food buyers in these households. An analysis of a selected sample of categories where there were big differences in annual spend across the generations showed gaps between the gaps. The next largest spending categories for seniors were wine at $124 per year and vitamins at $107 per year.