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Is Gen X the Neglected Middle Child?

 

Written on 09/28/15 8:56 PM

 

Millennials, and their always-on, digital savvy ways, get all the attention but what about Gen Xers? It’s a group that’s 65 million strong and in a high-spending phase of life. These 35-50 year olds may not be as numerous as millennials but they are more prosperous. The tough part is, they were also the group hardest hit by the recession and they’re still trying to make up for lost time as their own retirement looms. So why does it seem like companies aren’t paying attention to Gen X?

It’s not your imagination – companies mentioned the phrase “Gen X” or “Generation X” only 16 times in the past year on earnings calls, compared to millennial references which appeared roughly 620 times (CNBC). Part of the appeal of millennials is their adoption of technology and their always-on nature, which lends itself to more measurable and targeted media. But don’t be so fast to discount the 34-50 crowd.

According to eMarketer, while watching plenty of traditional TV, Gen Xers also engage in lots of untraditional viewing – just like millennials. This includes: streaming shows and movies through services like Hulu and Netflix, and watching on mobile devices, which creates an opportunity for marketers because these platforms allow for highly targeted advertising and interactive experiences.

Even though millennials are the ones doing the most of their shopping online, they aren’t the ones spending the most money. In fact, according to Comscore, Gen Xers are spending the most money online. And when you factor in that Gen Xers’ index of spending power is 25 percent higher than average, this is still a group worth spending time (and marketing dollars) on.

While millennials may be an easier target – gain their loyalty and trust while they’re young and you could have a customer and advocate for life – but hyper focusing on millennials can mean you overlook the Gen X opportunity, and the outsized spending power they wield.

Want to talk Gen X? Call or email us and we’d love to share how we’re helping clients do just that.