Following up: Beyond the Boomers

In the May 3 issue, Home Channel News published excerpts from “Beyond the Boomers,” a research study from Port Washington, N.Y.-based NPD Group.

The full report is out. And it offers further insights into the question: Who are the customers of the future?

Among the generalizations found in the report, Baby Boomers (those in the 45-to-64 age group) are the segment most likely to stick with name brands they know and trust. At the other end of the scale, Generation Y (ages 18 to 27) leads all generations as the most likely to abandon brand preference in order to save money.

Among brands, Rubbermaid had the highest percentage of consumers—97%—correctly identify it as a name brand, as opposed to a store brand. Following Rubbermaid, was Kohler, 94%; GE, 94%; Miracle-Gro, 93% and Black & Decker, 92%.

And when choosing a retailer, the generational lines show similarities, as well as differences.

“Consumers are mostly driven by price and location/convenience when choosing a retailer,” said Mark Delaney, director of home improvement for NPD Group. “The concern for price decreases as the population ages, though it always remains a top consideration.”

The research will be the subject of an Aug. 17 webinar. Visit homechannelnews.com to register.