Baby Boomers 

Consumers Born Between 1946-1964

 

Their main goal is to lead an active and healthy lifestyle.

 

Every consumer is involved with some form of health and wellness.

76% of consumers are doing things to lower their health risks and prevent diseases.

 

Baby Boomers account for one-quarter of the North American population which makes up $3 trillion in buying power.

 

They move in and out of various lifestyles depending on the occasion (habit, celebration and convenience), which leads them to be more receptive to products, and services they have never considered before.

 

“Boomer Consumers tend to pick and choose what makes sense for them on their individual filters, experiences, and lifestyle.

 

Baby Boomers expect quality and value when spending their money but are known to be frugal, use coupons, look for bargains and try to save money when shopping.

 

When advertisers target the baby boomers it is usually for an “age-related” financial or health product, and they use the marketing technique age silo.

Baby boomers have dominated the fashion trends and consumer behavior greatly due to their market power and visibility. There are the early boomers and the late boomers and they are both recognized by diversity. A revolution social values occurred they had non traditional thinking about the meaning and stability of marriage. Women's roles and sexual freedom are highly common. New norms of modesty and expanded options for women's dress came upon this era. They completed higher levels of education. They are the first TV generation and were able to learn about fashion trends faster than the other generations. They hate labeling and stereotyping. There are more singles who never married and others that got divorced. They don’t rely on a mate for self identity. They are more independent about developing personal style. They demand more choices in product availability and shop through tv, mail and the internet.

An American turns 50 once every seven seconds.

Fifty percent of the European Union will be over the age of 65 in the next few years.

In the next forty years, the media will rise to 50.

In the UK, citizens over the age of fifty hold 80% of the nations wealth.

The older baby boomers which were born between 1946 and 1964 spend the majority of their money on upgrading their homes and clothing, spending about 13% more than the average on apparel. The younger baby boomers, who were born withing the years 1946 and 1955 spend the majority of their money on their children and grandchildren. 

More and more baby boomers are becoming familiar with online access, and with romance seeking boomers, online dating sites keep growing exponentially. There are sites such as 55Alive, Senior Friend Finder, Prime Singles, Senior Match, Metrodate, Executive Senior Dating, and age match. 

 Much of a baby boomer’s spending goes to recreational and lifestyle pursuits like traveling, dining out, exercise activities, gyms, spas and salons. They spend money on entertainment, personal care and gifts. They go to sporting events, concerts, the theater and other live performances. Many go back to school and attend classes at local colleges or universities. 

http://www.youtube.com/watch?v=f92qHAUvOfw

 Last year, the 50+ crowd spent $87 billion on new cars. Baby boomers “buy more new cars, spend more on the cars they buy and even buy cars for their kids and grand kids,” according to CES. The average age of new car buyers is now 56.