Connect with us


Older Shoppers Value In-Store Visits for Major Purchases

In-person interactions still preferred by such consumers buying big-ticket items.




Older Shoppers Value In-Store Visits for Major Purchases
PHOTOGRAPHY: Serghei Starus/

Older shoppers are returning to physical stores in larger numbers than their younger compatriots, the ninth “Major Purchase Journey” study by Synchrony has found. This year, 74 percent of shoppers aged 65-plus and 71 percent of shoppers aged 55 to 64 purchased in-store, compared with 66 percent and 67 percent, respectively, two years ago. This stands in contrast to shoppers in the 18-to-44 and 45-to-54 age groups, whose in-store purchases remained relatively constant over the past two years.

“Retailers should pay close attention to the trend of older shoppers coming back to physical stores,” said Michael Bopp, EVP, Chief Growth Officer at Synchrony, a consumer financial services firm. “If this behavior continues, retailers may want to consider everything from product mix to store layouts to welcome these customers.”

The study also found that 5 percent more people are obtaining financing for large purchases. Half of survey respondents said that recent price increases have led them to seek financing options and 66 percent agreed that financing makes larger purchases more affordable.

A biennial report on the latest consumer spending trends, the Synchrony study surveyed 3602 individuals who made a purchase of $500 or more in the past six months. The survey covered such categories as furniture, electronics, jewelry, appliances, flooring, home improvement and automotive.

Click here for more from the study.




When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

Promoted Headlines

Most Popular