Final answer:
Retailers must recognize the distinct characteristics and spending behaviors of Baby Busters compared to the baby boom generation. Baby Busters do not necessarily emulate the behaviors of boomers from 20 years ago, and they exhibit unique economic potency and attitudes towards the previous generation's culture.
Step-by-step explanation:
Retailers should be aware that Baby Busters - individuals born in the years following the baby boomer generation - have different characteristics and behaviors than their predecessors, the baby boomers. The assertions that Baby Busters have an annual spending power of over $800 billion and that they feel alienated and angry at the baby boomers' culture may reflect particular attitudes and economic potentials within this cohort. However, it is important to note that claims about generational behavior can oversimplify complex patterns and should be approached with care when formulating marketing strategies.
The baby boomer population, comprising approximately 74 million people, is known for its significant contributions to consumer culture and for driving major societal shifts. As they reach retirement age, healthcare becomes a greater concern, increasing the demand for services. This highlights the need for nuanced marketing approaches that consider the diverse needs and attitudes of different age groups.
It should be noted that Baby Busters and baby boomers are distinct groups with diverse buying behaviors. Baby Busters may not necessarily behave as the boomers did 20 years ago, nor do they have buying behavior patterns that make it easy for retailers to reach them. A careful study of these generational traits is crucial for retailers to effectively tailor their marketing strategies.