SymphonyIRI: Younger boomers shift to dollar channel versus drug in vitamins, internal analgesics
CHICAGO — Drug channel retailers hold a lower than average share among younger baby boomers, likely due to a particularly low share across sizeable categories, such as vitamins and internal analgesics, within the younger boomer cohort, SymphonyIRI Group reported Thursday as part of its latest Times & Trends Report, "Baby Boomers: Riding the Wave of Diversity." In contrast, dollar channel spending among younger boomers is above average across each of these categories.
“Boomers will experience a broad range of lifestyle changes in the coming years that will dramatically change where and how they shop for consumer packaged goods and what they buy,” said Susan Viamari, editor of Times & Trends at SymphonyIRI. “The important thing for CPG marketers to remember is that boomers are not a homogeneous group, so sweeping strategies will not be effective. By developing highly-targeted marketing strategies that are aligned with the needs of key shoppers and consumers, retailers and manufacturers can create shopping experiences that will win share of spending and ongoing loyalty.”
Boomers’ concern about healthcare cuts across several prevalent health conditions. For instance, 70% of younger boomers and 71% of older boomers feel they are overweight. Boomers also show above average concern with cholesterol and cardiac health.