The increasing importance of focusing on Generation X by businesses cannot be ignored anymore.
Generation X, those born between 1965 and 1980, are poised to assert a significant influence in British society and economy. As they reach the peak of their careers and governing their earning potential, this ageing demographic occupies a substantial portion of leadership roles in various industries. In 2018, they were identified as the greatest spenders in the UK, surpassing both millennials and Generation Z.
Once known as 'latchkey' kids due to their upbringing in the era of free-range parenting and high divorce rates, Generation X is now on the cusp of inheriting a massive fortune from their baby boomer parents. This cohort, often disregarded by marketers, has considerable spending power, with a preference for large households and heavy spending on grocery, travel, and automotive expenses. Their collective influence extends beyond their economic clout, as they remain active participants in the realms of art, film, fashion, and music.
The resurgence of 90s culture, permeating fashion, interior design, art, and cinema, is a testament to the impact Generation X wielded during their formative years. Iconic reboots of movies such as The Matrix and Clueless, as well as the return of the legendary Furby toys, underscore the encroachment of the Generation X era into contemporary culture.
However, marketing experts often overlook Generation X, focusing instead on younger demographics like Gen Z and Gen Alpha. This disregard is misguided, as the current generation remains an essential audience for brands. Not only do they possess significant spending power, but they also exhibit a unique media profile due to their transition from an analogue to digital era.
Research indicates that Generation X remains loyal to traditional broadcast mediums, with commercial linear TV reaching 93% of this age group each month, compared to under 45s' 80%. Despite their affinity for traditional media, Gen X has embraced on-demand viewing, spending approximately an hour and fourteen minutes per day consuming streamed content. Additionally, they are likely to be frequent users of Amazon Prime Video, reflecting their regular spending habits.
Social media platforms are also prevalent in Gen X's media consumption. While Facebook is the most popular, Instagram and YouTube boast a substantial user base in this demographic, with over 45% of Gen Xers active on Instagram and 58% accessing YouTube each month. At least one-fifth of Generation Xers have watched a YouTube live stream in the past 90 days, indicating a growing interest in interactive content.
When it comes to obtaining news, the traditional sources still hold sway for Gen X, even as the medium shifts from analogue to digital. They trust established news outlets, whether on television, radio, or online platforms. In contrast to millennials, who rely heavily on social media for news, Gen X users consume news primarily via newspaper websites or apps.
Brands targeting Generation X should recognize their distinct media preferences and tailor their marketing strategies accordingly. Acknowledging the forgiving nature of this demographic, advertisers should approach them with honesty and authenticity, utilizing real-world situations and avoiding overtly promotional strategies. By doing so, brands can create an emotional connection with this important - and often disregarded - audience.
- Generation X, with their significant influence in British society and economy, are poised to challenge the dominance of younger demographics in various industries.
- Known for their preference for large households and heavy spending on groceries, travel, and automotive expenses, Gen Xers wield considerable spending power.
- The 90s cultural renaissance, seen in fashion, interior design, art, and cinema, showcases the enduring impact of Generation X.
- Brands overlook Generation X at their own peril, as they remain an essential audience, with unique media consumption habits and substantial spending power.
- Traditional broadcast media still resonates with Gen X, with commercial linear TV reaching 93% of this age group each month, contrasting significantly with the under 45s' 80%.
- In addition to traditional media, Gen X embraces on-demand viewing, spending about an hour and fourteen minutes per day consuming streamed content.
- Social media platforms like Facebook, Instagram, and YouTube are popular among Gen X, with over 45% of them active on Instagram and 58% accessing YouTube each month.
- Traditional news outlets hold the trust of Generation X, with gen X users consuming news primarily via newspaper websites or apps, unlike millennials who rely heavily on social media for news.
- Successful brands targeting Generation X must acknowledge their distinct media preferences and adopt authenticity in their marketing strategies to create an emotional connection with this important demographic.
