Generational Differences Denote Differing Buying Behaviors

There are 4 different generations in the marketplace today, each characterized by its own distinct buying behaviors. This is the first time in history 4 generations of consumers have been active in the marketplace, according to Partners & Levit Advertising’s managing partner, Mark Levit. In his address to a gathering of retailers in New York this week, Levit explained, “Sociologists have recognized the common characteristics of generational cohorts for years. Now, as marketing professionals, we can leverage this information to better serve customers, prospects—and even employees.” According to Levit, the 4 generations include the Matures, who’s attitudes were shaped by the Great Depression and World War II; the Baby Boomers, who reaped the benefits of their parents’ philosophies of sacrifice; Generation X, who came of age during periods of corporate and government scandals; and Generation Y, the attitudes of which were shaped by disappointment resulting from the dot com bust and mounting governmental and corporate scandals.” Levit explained, “The Mature generation values quality and conformity. They’re people who are proud of their accomplishments and enjoy talking about them. Baby Boomers want to be acknowledged for their hard work and prefer customized products and services. Generation Xers distrust anyone other than