Friday, April 19, 2024

Baby Boomers Are Spending Leaders

Brands and advertisers tend to focus on Gen Z and Millennials but guess which generation is leading the charge when it comes to the uptick in apparel sales? Baby boomers.

As reported in Bizwomen, NPD Group found that boomers are outspending other generations. Looking at clothing in particular, the amount people aged 57 to 75 spent on apparel in the first half of 2021 was up 28 per cent compared to 2019. This increase is significantly more compared to younger generations (it’s twice as big as Gen Z’s, and five times bigger than Millennials).

It’s boomers who have also seen the fastest growth when it comes to online clothing shopping through the pandemic, with their apparel choices centred on comfort, basics, sleepwear and sportswear.

For more on where the apparel industry stands compared to pre-pandemic, the factors impacting retail clothing sales, and why baby boomers should not be overlooked when it comes to clothing brands and more. Read the Bizwomen article here.

Read more:

The Differences Between Boomers and Gen X When It Comes to Finances

Older Americans Have a Stockpile of Wealth—and They’re Starting to Dole It Out

Women Over 50 Are Flourishing In Their Careers

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