The sweet spot in demographic markets is today’s baby boomer generation. This group of jewelry customers is at their peak in income earnings and they exhibit spending habits that include purchasing more expensive jewelry. Baby boomers are categorized as having been born between 1946 and 1964. Many of these consumers are now empty-nesters and live in double income households. Some have cashed in their large family homes for smaller retirement homes and that is freeing up more disposable income for luxury purchases like jewelry.
As a consumer group baby boomers cherish their self-expansive approach to life and are finding ways to thrive . . . even in an economy like we have today. Boomers will continue to find new approaches to living through a retirement lifestyle that will be more active than previous generations. Social activities and the need for fashion are greater priorities for this group as compared to previous retirees who, in general, took a more conservative approach to personal acquisitions and fashion. Don’t let an antiquated view of retirees limit your approach to this very promising niche of well financed consumers.
Baby boomers are learning about and adapting to new interpersonal networks and larger social arrangements. Marketing jewelry to baby boomers should include an integrated approach to digital and face to face communications. Develop new marketing communication strategies that stress the positive memories of days past. Enhancing the perception of times past with a fresh relevance to today can be an effective approach to selling jewelry through a nostalgic approach. How can you sell jewelry by romancing it through the emotions buyers attach to nostalgia and authenticity and personal style? How does your jewelry company perform when it comes to being transparent and honest about environmental sustainability and charitable causes? Do your policies and procedures impress customers as a means of collaboration or do they leave baby boomer customers feeling dictated to? How can you create a niche approach to baby boomers and make your business thrive?

JCK