Friday, February 23rd, 2018

Warning to Advertisers-7 Baby Boomer Spending Facts & Trends

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78 million baby boomers Warning to Advertisers 7 Baby Boomer Spending Facts & Trends

1. According to the article on Navigate Boomer Media Nielsen determined in a recent study that Boomers account for 38.5 percent of purchases of consumer goods, yet only 5 percent of advertising expenditures are aimed at those ages 35 to 64.

2. “Today’s middle-age and older consumers are different than their predecessors,” said a post about the study on Nielsen’s website. “The conventional wisdom that they spend little, resist technology and are slow to adopt new products needs to be reassessed. Boomers are an affluent group who adopt technology with enthusiasm.”

3. Boomers, ages 46 – 64, control 70% of the total net worth in the U.S and will spend $7 billion online.

4. There are 78 Million Baby Boomers in the U.S. who buy 7 cars over the age 50, purchase 80% of luxury travel and purchase majority of health care, financial and pharmaceutical products and services.

5. Did you know the average age of a grandparent in the U.S. is 48 years old? Grandparents.com is a great site for advice, travel, recipes, activities for the hip and happening grandparent!




From Media Post Publications and Jim Gilmartin:

6. A recent Burst Media survey discovered that only 17% of all those in the 45+ age groups believe that online advertising is intended for them

7.A Pew Internet and American Life Project (PIALP) survey also indicates that 70% of all Boomers are surfing online. Moreover, SeniorNet states that rich Boomers 50 and up spend $7 billion every year in online purchases. PIALP forecasts that, by 2010, rich Boomers will outspend every other affluent category by $1 trillion per year and Boomer spending is expected to exceed $4.6 trillion per year by 2015.

A few closing words from Jim Gilmartin: When connecting with Boomers, it is critical to remember there is no such thing as a “Boomer market.” To stereotypically lump all the Boomers together is folly. As we age, we become less, not more, alike. There exists a vast difference between the mindset of a 46-year-old Boomer and a 64-year-old Boomer.

Wrapping up:
The younger Boomer may be more concerned with work, family and offspring issues, while the older one may become nostalgic or become concerned about his/her legacy. Keep differences in mind when marketing to these profitable customers.


About the author: Boomer54 Mark is the publisher and senior editor of Baby Boomer Talk Online. He likes to be helpful to other boomers sharing useful information he gleans from the web. He attempts to go through life being positive and spreads this to the boomer world via email with inspirational quotes and videos. He is living in America’s finest city, San Diego, with his wife, The Red Headed Trip , and his two Boxer Dogs, Gabe and Luke.

Comments

9 Responses to “Warning to Advertisers-7 Baby Boomer Spending Facts & Trends”
  1. As a Boomer and the author of a new novel about the spiritual milestones one Boomer relived as he thought he was about to die on 9/11, I wonder why we Boomers don’t have our own literary genre like Young Adults, Chick Lit, etc.?

    Doesn’t it make sense to identify stories that are written by and for Boomers?
    Ronald Louis Peterson´s last [type] ..Hello- its Me

  2. And how about TV? As we’ve gotten older my husband and I can’t read as late as we used to and like to watch TV at night. But everything except the news is geared toward a younger audience. (All the ads on the news are for medical products.) How about a not-so-violent mystery featuring people over 60 who are active and sharp-witted? Maybe they can throw in a little sex, too.

  3. We, boomers, have billions in spending power and are virtually ignored by advertisers. Obviously, that is the reason I wrote the blog post to bring awareness and attention to us.

    Thanks for the comment. Come back anytime.

    Boomer54 Mark

  4. Mike Bilder says:

    Very interesting, while they seem to be a really powerful audience, but most advertisers are still too focussed on the magic 18-49 age group instead of trying new ways. Changed alot over the last years, but there still seems to be a huge demand meeting a comparably low ammount of offers.
    Mike Bilder´s last [type] ..Casio EXILIM EX-Z33 VP Digitalkamera 10 Megapixel- 3-fach opt Zoom- 6-4 cm 2-5 Zoll Display vivid pink

  5. Mike,

    Thanks for the comment. Advertisers are starting wake up that boomers have a tremendous amount of disposable income.

    Come comment anytime.

    Boomer54 Mark

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