Retailers are right to mostly give up on marketing to millennials.
Americans who were 20- to 30-something used to be ground zero for business advertising. Those were the people with infinite wants and money that was burning a hole in their pockets. At least that was the case for baby boomers.
Retailers have learned the hard way that millennials, born from the early 1980s to early 2000, are largely broke, Bloomberg Business reports. Their baby boom parents are the ones with some money, or what’s left after the Great Recession.
But marketers and stores shouldn’t give up on millennials altogether. Instead of going after Americans in their 20s and 30s, companies should aim for the millennials’ kids.
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More specifically, the ads should target the heartstrings of baby boom grandparents so they will buy things for the millennials’ kids — boomers’ grandbabies. Baby boomers then are still marketers’ dream generation.