To identify and analyse how income and population is impacting on Generation X consumers shopping experience in retailing. And to investigate how retailers/brands are responding to the trends (identified above) which are impacting on Generation X consumers

Abstract

The purpose of this assignment is to investigate how income and population are impacting on Generation X consumers. The literature review will demonstrate how income has had a negative effect on the consumer and how population has had a positive effect. It will also show how retailers have reacted to these changes. From the reading of the literature review it will be become apparent that consumer’s income has decreased as a result of the recession. It will also be clear that they have made changes by purchasing own brands, show rooming and online shopping. Increasing population have led to increased prices changes that now consumers have a wider variety of products, an emphasis on healthier products and increasing population can lead to increased prices. From the retailers point of view they have made many changes in order to keep up with the change in population and income. Some of these reactions include: the increase in technology, the introduction of own brands which entices the price conscious consumer, the enhancement of loyalty cards which feel will increase brand loyalty and finally the opening of new stores due to the increase in population. It was found that the respondents had similar feelings to what was stated in the Literature Review. The consumers all felt they had suffered a decrease in income, leading them to be price conscious, since the beginning of the recession. The view of own brand products was overall positive, which is in line with the literature review. Each respondent showed to some degree an interest in becoming healthier. It was also stated that they felt there was an increase in population, which has led to more variety of products available. In difference to the literature review the respondents didn’t respond as well to technology as was expected. The use of loyalty cards has increased with respondents stating they made life easier. This was followed up by the use of sales promotions which were greatly appreciated by the budget conscious consumer. Author keywords: Generation X, ethnography, marketing research, consumers, income, population, retail