Financial Optimists Are Retailers’ Prime Target Audience
As the COVID-19 vaccinations increase and more people are returning to workplaces, shopping in stores and traveling, your prospects and clients want to maximize foot traffic and sales. People who consider themselves financial optimists are a prime target audience because they typically have steady employment, disposable income and are less concerned with using credit to buy whatever they want and need.
Media Group Online’s strategic partner, The Media Audit, has all the insights about this prime audience.
Adults 18+ Who Are Consider Themselves Financial Optimists*,
by Generation and Selected Markets
|
Market |
Gen Z |
Millennials |
Gen X |
Boomers |
|
Buffalo |
14.0% |
37.4% |
35.8% |
10.5% |
|
Houston |
12.4% |
37.2% |
32.2% |
16.0% |
|
Atlanta |
10.8% |
34.8% |
31.4% |
22.5% |
|
Detroit |
14.0% |
32.0% |
26.7% |
19.5% |
|
Boise |
17.5% |
32.5% |
26.5% |
19.4% |
|
San Francisco |
14.7% |
41.5% |
25.7% |
15.1% |
Source: Based on The Media Audit’s Fall 2020 and Winter and Spring 2021 surveys
The results of these selected markets are quite similar and unsurprising. Gen Zers, which includes mostly teenagers and college students (and some graduates) were more likely to have lost many of the minimum/low wage jobs during the pandemic. It’s understandable why this is dousing their optimism. Conversely, they are likely to regain many of those jobs as restaurants and other retail sectors recover.
Millennials are, of course, the “Golden Ticket,” as their careers are typically well-established, they have been buying most of the houses during the past year (and will continue to do) and are spending to improve the livability of their current home or newly acquired home. As many have children, they will be a major factor in helping the leisure & hospitality industry to rebound during the summer and beyond.
Many Gen Xers are at the peak of their careers and earning power. Their spending is also very focused on their homes and families – and they are also ready to escape from “lockdown” to fabulous vacations.
Many Baby Boomers are enjoying their retirement and have the disposable income to make it very enjoyable. Many want to stay in their homes, which requires spending for most home products, and they will be the first returning travelers, being fully vaccinated.
With many economic experts expecting a huge increase in the 2021 GDP and a tidal wave of renewed consumer spending, recommend your prospects and clients display their optimism to attract more people who consider themselves financial optimists.
