SymphonyIRI: Younger boomers shift to dollar channel versus drug in vitamins, internal analgesics
CHICAGO — Drug channel retailers hold a lower than average share among younger baby boomers, likely due to a particularly low share across sizeable categories, such as vitamins and internal analgesics, within the younger boomer cohort, SymphonyIRI Group reported Thursday as part of its latest Times & Trends Report, "Baby Boomers: Riding the Wave of Diversity." In contrast, dollar channel spending among younger boomers is above average across each of these categories.
“Boomers will experience a broad range of lifestyle changes in the coming years that will dramatically change where and how they shop for consumer packaged goods and what they buy,” said Susan Viamari, editor of Times & Trends at SymphonyIRI. “The important thing for CPG marketers to remember is that boomers are not a homogeneous group, so sweeping strategies will not be effective. By developing highly-targeted marketing strategies that are aligned with the needs of key shoppers and consumers, retailers and manufacturers can create shopping experiences that will win share of spending and ongoing loyalty.”
Boomers’ concern about healthcare cuts across several prevalent health conditions. For instance, 70% of younger boomers and 71% of older boomers feel they are overweight. Boomers also show above average concern with cholesterol and cardiac health.
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Walmart kicks off holiday toy layaway program
BENTONVILLE, Ark. — Walmart announced its Top 20 Toy List for the upcoming holidays and said the items now are available at Walmart stores in time for the retailer’s layaway program, which launches this Sunday.
In a social media tie-in, customers who "like" their local Walmart store’s Facebook page can begin using the service immediately.
The discounter also said that if a customer puts a toy on layaway and Walmart rolls back the price later in the season, the chain will honor the rolled-back price if it is in effect at the time of final payment. Walmart also will match competitor pricing during checkout for layaway products through its ad match policy. Customers will be able to pick up their toys once they complete their layaway payments. Once completed, customers will receive a full refund of the $5 layaway open fee on a Walmart gift card.
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August retail sales see modest boost
WASHINGTON — U.S. retail sales in August reflected a solid back-to-school season.
The Census Bureau announced that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $403.9 billion, an increase of 0.9% from the previous month and 4.7% above August 2011. Retail trade sales were up 0.9% from July and 4.4% above last year.
Looking across retail categories, adjusted sales at grocery stores during the month were flat at $47.3 billion. Health and personal care stores saw a slight gain of nearly 0.2% to $23 billion. Retail sales for drug stores and pharmacies were not recorded; however, sales experienced an increase from June to July (to $19 billion). General merchandise stores’ sales decreased 0.3%.
Commenting on the results, the National Retail Federation said the retail industry "continues to demonstrate its strength and resiliency during this fragile economic time."
"Consumers and retail companies continue to face many questions and challenges, from stubbornly high unemployment and stagnant incomes to depressed housing prices and the looming fiscal cliff, all playing into overall economic uncertainty and declining consumer confidence," NRF president and CEO Matthew Shay said.
NRF chief economist Jack Kleinhenz added, "While retailers continue to witness sustained sales growth, consumers remain cautious about their discretionary expenditures,. Consumers have carried much of the growth during the economic recovery, despite high food and gas costs. Though the economy isn’t backsliding, growth continues to be a sore point."
Consumers and retail companies continue to face many questions and challenges, from stubbornly high unemployment and stagnant incomes to depressed housing prices and the looming fiscal cliff