The baby boomer generation, those born between 1946 – 1964 make up about 27% of the population but control a much larger percentage of spendable wealth.
One particular individual has spent countless hours and even years researching the buying habits of this generation of baby boomers. This individual is nothing less than world renowned economist Paul Zane Pilser. Basically his insight has revealed that this generation has a much keener sense of health and wellness than their parents did and most aren't shy about investing their money in maintaining their health.
A unique trait of baby boomers is their shopping habits. They are typically at an age where they have a much higher degree of personal income. They often will spend this extra income on products that make them feel or look younger or improve their health.
The more educated informed shopper because of discriminating tastes will more readily discern products and services of higher quality. Smart buyers have learned through experience that their least expensive long term alternative is to purchase products and goods of the highest quality. The higher quality product in addition to costing less over their lifetime, will typically outperform the cheaper alternative.
Frankly speaking, add-on options in most cases don't improve the overall product in quality. However, keep in mind that certain in-demand options can be critical to the resale of a product if that's a possibility, ie. If you reside in a hot climate state purchasing an auto without air conditioning would be a major mistake. If one's financial choices are limited it would be preferable and even less costly to purchase a higher quality item with less options verses a lower-quality alternative.
In conclusion one last item concerning the buying habits of boomers concerning consumable, reusable commodities like nutrition supplements and health foods and the like. The sophisticated educated boomer even if their initial purchase of a particular item is not the highest quality, once they determine they like that item they will move up in quality with their purchases. And of course they tend to stay with the higher quality item as they simply like it better and/or realize it's their best and truly least cost item over it's lifetime.
Plus who wants to settle for second best when they can have the best and pay less in the long run. If you want to become like the wealthy and savvy you must model their traits and habits and one of those is always selecting the highest quality and best quality products and merchandise they can possibly afford.
This is just one of the reasons we have made a decision as a business to market products of the highest quality. We know that the smart consumer will recognize quality and will always come back to quality. In addition we don’t want to have to apologize to our customers for providing them a product of suspect quality.
Thanks,
Jim Sapp
