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Reaching Consumers: Moms, Millennials, Hispanics and Homeowners
NRF has created this resource to help guide retailers’ marketing strategy when targeting specific consumer demographics by better understanding the shopping behaviors — both expected and unexpected — of moms, Millennials, Hispanics and homeowners.
Retailers typically have a specific shopper persona they’re targeting with everything from branding and marketing to the products they sell and the layout of their stores (or websites and apps). The behaviors, expectations and demographics of consumers in the United States are always shifting; recently they seem to be shifting at a faster rate than ever.
New consumer data from Prosper Insights & Analytics provides a peek inside the minds and wallets of varied demographic groups. NRF has taken a deep dive into this dataset for insights into the shopping habits of some of the fastest growing and changing consumer groups: moms, Millennials, Hispanics and homeowners.
“Millennials” may be one of the most-used words of the decade, however there always seems to be something new to learn about them. As this group of consumers ages, retailers will need to take a closer look into what drives their purchasing behavior — a 32-year-old shopper has some quirks that don’t apply to the 23-year-old shopper. View more insights on Millennials.
The Hispanic population in the U.S. reached 55.3 million as of 2014, accounting for 17.3 percent of the nation as a whole. That’s up from 14.8 million (6.5%) in 1980. As this population ages and evolves, retail marketers must comprehend how to reach this burgeoning group of shoppers. View more insights on Hispanics.
Homeownership is not what it used to be, and retailers looking to reach modern or new homeowners (for furnishings, appliances, supplies, etc.) should keep in mind the needs of this group of shoppers. They’re not impulsive; they’re looking for convenience and quality. View more insights on homeowners.
In this age of increased desire for personalization, a retailer’s ability to segment various demographics can make a significant impact. Yet retailers must also be willing to look beyond the traditional thoughts about what each demographic represents — as well as to dig deeper into smaller categories.
Moms, Millennials, Hispanics and homeowners are all well on the way to defining unique shopping journeys. Retailers willing to pay close attention are the ones who will lead them home.
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