Merchandising for Millennials and Boomers
Recently, our very own Lita Dirks spoke at the 2017 Executive Summit in Breckenridge, CO. As market trends change, Lita addressed the demands and desires of the two largest buyer profiles, Millennials and Boomers. With the Boomer population predicted to fall from 74.9 million to 16 million by midcentury and the Millennial market currently at 83 million and entering into their peak consumption years, these are two groups to pay big time attention to!
The good news, these dominant generations have very similar needs! In our new blog series, Design Solutions for Like-Minded Lifestyles, we will dive deeper into four influential factors that impact the lifestyles of both Millennials and Boomers. Take a look at the first factor Lita discussed at the conference, hosted by Builder Partnerships.
Factor One: Ease of Living
Both Millennials and Boomers are at a stage in their lives where they want to focus less on “stuff” and more on themselves. This minimalistic approach has changed the “keeping up with the Joneses” mentality to a lifestyle that allows them to “have more fun than the Joneses.” To address this desire, we’ve developed ease of living features to consider when building homes for Millennials and Boomers:
· Quality over quantity. These demanding generations are looking for a home that has a smaller foot print with well-designed spaces.
· It’s important that the “lifestyle triangle” of a home is thoughtfully designed. This is the flow and function from the kitchen, dining and great room.
· Have you pre-planned for space customization? Instead of a pantry off of the kitchen these buyers may want to have the flexibility of putting in a scullery or tech center. Providing them with the ability to modify a floor plan is a standout selling feature for both Millennials and Boomers.
· Low maintenance selections are a must! Think solid surfaces countertops that won’t chip or stain (quartz, quartzite), large format tiles and easy to maintain floors (luxury vinyl, laminate, wood-look tile).
· Natural lighting, produced by strategically placed, large windows, allows a smaller space to appear larger and provides ample light.
· By layering artificial light sources (overhead, recessed, lamps, under/over cabinet), Millennials and Boomers have well-lit spaces even on cloudy days or at night.
See photos below for ease of living inspiration and stay tuned for our next blog focusing on the second influential factor.