KEY CONSUMER DEMOGRAPHICS
With the exception of Sears, the dominant age group in all channels is 30 to 44, and the fastest growing between 1989 and 1994. The 45-to-64-year-olds comprise the largest share of Sears customers, while the 65-plus group, not far behind, is the fastest growing.
The largest share of intimate apparel customers in department, specialty stores and J.C. Penney is earning $60,000 and up and is far and away the fastest growing segment. Of special note is the fact that this higher income share is also experiencing the most rapid growth among all income segments in the discount stores.
While the 30-to-44-year-olds comprised the largest share of buyers in food and drug outlets in 1989, market dominance shifted to the 45-plus group in 1994. Department stores and J.C. Penney experienced the same change. The opposite happened in the specialty stores during the same period, with the 30-to-44-year-old group gaining and dominating. The 30-to-44 and 45-to-64 age groups are almost equal for the direct mail segment, with the 65-plus share increasing.
Department stores’ share of $60,000-plus income earners was almost twice that of any other group in 1989 and has grown to about three times as much in 1994. Almost as dramatic was the growth of that same higher income group in specialty stores, food and drug outlets and direct mail. They now make up the biggest share in all three channels. The $60,000-plus and the $50,000-59,000 income shares are the fastest growing in the discount segment, but do not yet have the largest shares, while Penney’s has fairly even distribution across all income groups.