Do you remember the rise of the silver surfer category of consumers that we all read about a few years ago?
By Helen Dickinson
These were older shoppers - aged over 55, possibly retired, more technologically astute and with more disposable income than most of the previous generation of fifty-somethings.
They were all the rage for a while. Before them, I'm sure there were “empowered teenagers”, “gadget dads” or even “single stay-at-home mothers with internet access”. There is always a section of society which the trend-spotters have decided will be the next big thing.
I'm sure that those responsible for identifying trends get it right the vast majority of the time. However, when it comes to fashion retailing, there has been one large section of society which had historically been shamefully under served and is now getting more of its time in the spotlight. I'm referring to women from the so-called baby boomer generation.
The precise definition of when that generation was born seems to vary, but a fair assumption seems to be any time during the 1950s and 60s. This means that women of this generation are now aged somewhere between their late thirties and late fifties.
I think it's about time this segment benefited from having the trend focus directed towards them. And for retailers, the justification is compelling in terms of the amount of disposable income which this group currently holds and the relative paucity of the current high street offerings aimed at them, although there are, of course, some exceptions.
Some women consider fashion offerings to be polarised between very youth-orientated fashion - which, let's face it, isn't right for everyone - and the sort of older clothes which I'm sure they prefer to associate with their mothers.
In recent years there's been a significant focus on teenagers and twenty-somethings, particularly with the rise of fast fashion and the value retail sector. Somewhere along the line though, older (and more loyal) consumers were rather left behind. Perhaps this was part of the reason that fashion sales struggled last year. Leggings, sack dresses and smock tops might suit shoppers of some ages, but what about the rest of us?
There are signs that this focus on the young is now be changing. I noticed a new column which started in the Times 2 supplement a couple of weeks ago called '40 not out', dishing out sartorial advice to older women. And, in the same week, an interview in the London Evening Standard quoted retail guru Mary Portas as saying: “If I had the time, I'd love to do a really simple, beautiful collection for women in their forties. Most of the high street is aimed at 18- to 25-year olds.”
The credit crunch aside, the boomer generation tends to have a bit more money to spend but needs convincing that some of this should be diverted away from purchases for the home, where much of it tends to be focused, and onto clothes. As some of this generation has got older, they may appear to have lost some interest in fashion - but is this down to just ageing or is it because they feel ignored by the market?
The fact that many of them have felt under served is ironic. After all, these are the people who invented many of the trends and fashions currently in play on our high streets but as they grew older, some retailers forgot to stay with them. Many of the designers and merchandisers from the boomer generation have also left the industry.
Understanding the needs of this market is crucial. These are people who want to look stylish but they don't want to feel foolish into the bargain. It's a tricky balancing act.
What is for certain is that in an increasingly tough high street environment, the female baby boomer generation is one of the few retail segments which might still have scope for growth. Will this prompt a shift in direction from some of the major players? It could be that the indications of just such a shift are already out there. I hope so.
Helen Dickinson is Head of Retail at KPMG
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