There is a suspicion that Baby Boomers are hesitant to embrace cryptocurrency, and RadioShack believes they’re the ones who can make the older generation warm up to the idea – notably to their own brand of it.
RadioShack is on a mission to establish a future for their brand in cryptocurrency exchange, and recently announced their presentation of “RadioShack DeFi,” which stands for “decentralized finance.” Their vision is to create a market where users can trade RADIO tokens as an alternative to a centralized exchange such as Coinbase.
RadioShack’s optimism in their ability to sway the Baby Boomer generation lies in their identity as a longtime established name brand that customers from this age group are familiar and comfortable with. Being that the average decision-making CEO is 68 years old, RadioShack is banking on their connection with Boomers as being enough to uniquely position them to sell this group of 57-75 year-olds on the merits of cryptocurrency.
“Too many [cryptocurrency companies] focused on speculation and not enough on making the ‘old school’ customer feel comfortable,” says the website. “The older generation simply doesn’t trust the new-fangled ideas of the Bitcoin youth,” continues the website, specifying adults “who are especially authoritarian, intelligent, and well-read,” – a snapshot of the purportedly neglected consumer segment RadioShack is targeting.
At this time, RadioShack’s primary focus is on convincing other companies, not individuals, to trade with RadioShack DeFi based on their well known name, citing examples like Louis Vuitton, Starbucks, and Mercedes-Benz who’ve utilized their own finance projects.
The 100 year-old brand that thrived in the electronics and personal computers market in the 70’s and 80’s has struggled during the first two decades of the new millennium, and makes a major pivot in their marketing model with their present aim to bring cryptocurrency to the mainstream.
Will this strategy work for RadioShack and successfully bring the Boomer generation into the brand’s new crypto market? Read more here: https://www.theverge.com/2021/12/22/22849943/radioshack-defi-cryptocurrency-radio-token-launch.