The Value of Every Generation

Aug 25, 2023

Bridging the Gap

Emerging generations hold sway in setting technological and cultural benchmarks. Yet, as brands strategize, they must recognize each age group's unique attributes and potential.

The Reality of Declining Birth Rates

Given their technological aptitude, the appeal of targeting Gen Z and Millennials is strong. Yet, data points to an ageing population in developed regions like the U.S., Japan, and parts of Europe due to declining birth rates. This shift reiterates that while the younger populace sets trends, older generations remain influential, each with distinct consumer patterns.

World Bank: Fertility Rates (birth per woman)

The Weight of Purchasing Power

Financially, older cohorts like the Silent Generation and Baby Boomers have accumulated significant wealth. Conversely, younger generations grapple with economic impediments such as massive student loans and rising housing costs. These trends must be recognized for industries like luxury travel and goods, and services and offerings adjusted to meet their changing needs.


Diverse Consumption Patterns

While tech gadgets might magnetize Gen Z, Baby Boomers could be the demographic exploring luxury travel destinations more often and may exhibit an increased propensity to consumer goods and services not traditionally purchased. Highlighting this, Visa reported that Americans aged 50+ account for 50% of current purchases—a figure that will continue to increase in the next 5-10 years.

Distribution of aggregate spending (By age)

Evolving Brand Loyalty and Behaviours

Historic brands might find security in the continued loyalty of older generations. Yet, fresh market entrants could resonate more with younger consumers, especially if their ethos aligns with contemporary societal values.


So, here are a few ways how brands can craft an inclusive generational strategy: 

  • Diversifying: Prioritizing a single generation can be risky. A comprehensive approach can nurture potential within every age group.
  • Crafting Customized Messages: Effective communication hinges on relevance. Brands must adapt their messaging to appeal to the diverse values of the different generations.
  • Staying Proactive: In a dynamic demographic landscape, brands must be agile and anticipate shifts to recalibrate their strategies accordingly.

Shift Forward

In a world advocating personalization, balance remains essential. Celebrating every generation's diverse perspectives and unique attributes can support lasting brand success. As we develop our marketing journey, let’s be sensitive to generational variation, ensuring inclusive and effective strategies for all.