Question

Which recent trend-parent returning to live with their children or children returning to live with their parent-is going to have the most significant impact on retailers? What can retailers do to take advantage of these trends?

Answer 1

answer-

The most significant impact on retailers would be from the trend parents is returning to live with their children because Parents would always be high authority in the family to make buying decisions.when children live alone they would have purchase different things in different quantities but when parents come in their home and live with them then purchasing decision start to differ.this would impact on retailers because now retailers would have high chances to their product purchases.

For example, two-thirds of parents reported researching and planning for every electronics and appliance purchase, versus 58% of adults overall. Likewise, parents claim to plan for all apparel purchases at a greater rate than the average (53% and 43%, respectively).

Given that online shoppers also plan to a greater degree than in-store shoppers, it’s not surprising to see that parents are more likely to shop exclusively online than other adults. Roughly one-quarter claim to only shop online for housewares and electronics/appliances, compared to 13% and 16% of respondents overall, respectively.

While that suggests that marketers should heavily prioritize digital media to reach parents, print shouldn’t be forgotten. Citing third-party data from Propser Insights and Analytics, the study shows that print has a 27% share of influence on parents’ decisions, compared to 24% for online and 11% for mobile. So it seems as though a cross-channel approach is necessary .

retailers can take advantage of this by influencing buying decision with efffective marketing strategy like promotion in magzines, Tv commercials . retailers can held sales because parents love to purchase from sale for themselves as well as for their adult children.all marketing and promotional efforts would help to make good loyal customer base and increase profit of theirs.

*hope above answer would help you.