Merchandising for Millennials and Boomers
Welcome to the second blog in our series Design Solutions for Like Minded Lifestyles! Here, we will be address four influential factors that impact the similar demands and desires of the two largest buyer profiles, Millennials and Boomers. Last week we discussed “ease of living” and now turn to the second factor, “experiences.”
Factor Two: Experiences
As Boomers are proving to be healthier and wealthier than previous generations they are gravitating towards spending their hard earned money on experiences rather than material goods - much like today’s Millennials. Because this “experience era” is driving the demands of these two generations, home builders must rethink their products to highlight this growing lifestyle trend. To satisfy the desire for “experiences over stuff,” we’ve developed the following considerations when home building for Millennials and Boomers.
For these two target markets, the kitchen has become THE place to experience food, drinks, entertainment and fun. With the following features, create a kitchen that Millennials and Boomers are sure to devour!
· A large island with seating and space. Or, if the home can accommodate, a spacious double island.
· An added “messy kitchen” to keep clutter and dishes hidden while homeowners entertain.
· Storage solutions such as beverage centers, wine cabinets, pantries and cabinet systems.
Millennials and Boomers crave the experience of an outdoor space where they can relax, retreat and entertain. (Notice the entertainment theme?)
· Thoughtfully merchandise outdoor areas as “liveable” square footage.
· Window walls, as well as a continuation of flooring and style, create a seamless flow from indoor to outdoor spaces.
· Any additions that cater to cooking/dining, lounging and entertainment are selling stars.
A home, as well as a community, needs to address technology as a key demand for Millennials and Boomers. After all, they want to be able to “post” their countless experiences!
A spa like master bathroom is a homeowner’s haven for relaxation and retreat. It’s all about the shower, storage and potential added elements such a spa glass, a no step entry, linear drain, hand held and rain shower heads, as well as ample amounts of natural and artificial light.
For these dominant generations, community amenities are just as important as the actual home. Features such as location, catering kitchens, fitness, public and private spaces, outdoor living and community activities produce a social setting where experiences can thrive.
Stay tuned for our next blog focusing on the third influential factor and see photos below for inspiration on creating spaces that resonate “experiences” with these buyers.