commercialrealestate.com.au: Older Australians outspend younger shoppers, forcing retail rethink

As Baby Boomers and Gen Xers continue to outspend younger cohorts in discretionary categories, retailers and landlords are being forced to rethink who their most valuable customer really is.

RetailOasis senior retail strategist Madeline Kulmar told commercialrealestate.com.au that the data is a reality check for any retailer who has gone all-in on youth marketing. "Yes, Millennials will become the dominant population cohort within five years, but population size and discretionary spending power are two very different things. Retailers investing in younger customer relationships are playing a smart long game, but they can't afford to take their eye off the cohort that's actually spending right now."

Kulmar also points to the implications for retail landlords, noting that the pressure will be on them to support tenants in creating physical environments that justify the trip for both ends of the age spectrum: experience and discovery for younger shoppers, comfort, service, and ease of access for older ones. Read the full article here.