Clothing spending increased by 28%, and the spending power of baby boomers cannot be ignored

According to NPD, from January to July 2021, American baby boomers' spending on clothing increased by 28% compared with pre-pandemic 2019. Although most generations have increased their spending in the clothing market, the growth rate of baby boomers' spending is five times that of millennials and more than twice that of Generation Z.

The fastest growing categories among baby boomers over the past 12 months were comfort, basics, sleepwear, activewear, etc. This suggests that baby boomers are updating the clothing in their wardrobes.

NPD also found that before the epidemic, 82% of baby boomers went to physical stores to buy clothes, but with the closure of a large number of physical stores last year, many people began to learn and adapt to online shopping.

Baby boomers accounted for $1 of every $5 spent on online apparel in the past year , and their online apparel spending is growing faster than any other generation.

Although in-store purchases remain the primary way baby boomers shop as retailers have returned to physical stores as they reopened this year, the online shopping habits developed during the epidemic will not be completely abandoned by this group.

Most brands and retailers like to focus on Millennials and Gen Z, but Baby Boomers shouldn’t be ignored, NPD said.

In the United States, baby boomers refer to people born between 1946 and 1964. Data shows that the total number of babies born during the baby boom period is close to 79 million, far exceeding the previous silent generation and the 55 million of Generation X that followed.

Although this number is expected to drop to 72 million and the number of millennials has exceeded that of baby boomers, baby boomers still have a large population base and sufficient purchasing power when it comes to influencing the US economy.

Data shows that the average online shopping spend of baby boomers is $203 per transaction, far exceeding the consumption of millennials. Baby boomers do not care much about price when shopping online. In fact, 77% of baby boomers will buy products based on the value they bring. Nearly half of baby boomers will search for product recommendations and reviews online, or conduct research on the brand's official website before purchasing.

Therefore, if sellers want to attract consumers in this age group, effectively communicating the advantages and value of the product may be a good idea.

USA

Clothing expenses