As marketers continue to segment consumers by generation, a growing body of research suggests that this approach, while useful, can be overly simplistic, according to a report from market research firm Ipsos. While generational differences may provide a starting point for audience segmentation, people’s life stages and individual needs often play a more significant role in shaping their values, attitudes and purchasing behavior.
With inflation rising and purchasing power slowing, affordability and price sensitivity have become key factors in consumer choices across all demographics. Still, one fundamental truth remains: people crave connection. Consumers want to feel seen, understood and valued by the brands they engage with, according to Ipsos.