Do You Know Where the Kids Are? Vol. II

Last month we discussed a significant shift in the American consumer marketplace. In short, it's getting younger. The U.S. population curve looks like an upside-down bell. At the front end is the big baby boom generation—primary customers for most retail jewelers—and at the back end is Gen Y, or the Millennial generation, children of the boomers. This group outnumbers the boomers. In the middle, at the bottom of the curve, is Generation X. They're 10–11 percent fewer than the boomers, yet retailers expect them to uphold the same spending levels. At your next jewelry industry event, look around the room. How many are under age 40? Some, probably, but ask how many are under age 30. Few, if any, hands will rise. Yet these are the consumers this industry needs to court. The baby boomers—already maturing out of their prime shopping years—are focusi

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