BUSINESS Gen X, AKA the ‘Me Generation’ Known for Taking Consumption to the Next Level By Sarah McGoldrick Sunday, February 4, 2024 12:56 AM RELATED CONTENT The Consumer Now What’s on Tap for 2024? The Silent Generation Values Loyalty and Relationships Baby Boomers Continue to Have a Significant Impact on the Economy Millennials Are Now in Power Gen(eration) Z, Growing Up as Digital Natives Generation Alpha, Able to Shape Buying Trends Who Are They… Gen X has been transforming the way people buy goods for more than 50 years. Also known as the “Me Generation” or “The Forgotten Generation,” Gen Xers were the first to take consumption to a higher level, coming of age in the Guess and Calvin Klein era. Born between 1965 and 1980, they predate the digital age, having an analog childhood. Today, they are between the ages of 43 and 58 years old. The children of Boomers, they became the first generation of latchkey kids as their Boomer parents both went off to work in the post-war economy. Today, Gen X continues to carry significant purchasing clout and know-how to find a good deal. More than 88 percent of GenXers have loyalty cards, according to a Forbes Magazine report. This generation makes more than their parents. They also spend more, averaging 33 percent more than Millennials and 11 percent more than Boomers. Having a wide range of incentives is key to bringing Gen X to your business. More than 86 percent of Gen X shoppers will switch brands if retailers offer discounts or coupons. This buying power does not necessarily mean they are ready to go out and spend indiscriminately. Gen Xers are less trusting of brands and marketing campaigns. They prefer to do independent research and are less likely to change products despite new versions or innovations. Put simply, they stick to what they like. What They Are Known For… • Take advantage of television ads and retail store promotions. • Get social. Social media is still important to Gen X, who are now among the highest users of apps like Facebook. They are more likely to discover a new product on social media than any other generation. • Utilize Influencers. Gen X are listening to influencers, with 18 percent buying a product because it was recommended through someone they found on social media. • Take a stand. Gen X wants to see companies embrace social issues including climate change, racial justice and affordable health care. • Embrace nostalgia. Gen X respond to products that reflect their childhood and personal beliefs, so don’t be afraid to adjust to meet these demands. • Make sure they can access your products. Gen X still prefers to shop in store over digital purchases, so ensure your product is available in brick-and-mortar stores. • Use promotions like coupons and other incentives to gain their business.