“This group is redefining aging,” Brady said. “They grew up in the
age of consumerism. Their sheer size helped define brands; they're
rebellious... The point of this paper was to tell companies, 'this is
not your grandma.'”
Not your grandma indeed. Boomers are far more affluent these days. Whereas the Silent and Great Generations were all about saving and penny-pinching, baby boomers currently account for nearly $230 billion in sales for consumer packaged goods, outbuying age groups in products like coffee, magazines and diet soda, the study noted. What’s more, they will control 70 percent of the nation’s disposal income and stand to inherit $15 trillion in the next 20 years.
And there’s the fact that as they get older, they have more time to use that disposable income, according to the study: 67 percent said they would spend more time on their hobbies and interests when they retire.
So with these numbers staring companies in the face, why do so many brands ignore boomers in their marketing? They’re still stuck with outmoded ideas about how boomers think and what advertising to them should involve, the researchers explain. The study found that boomers are no more or less brand loyal or price conscious than younger consumers.
Not your grandma indeed. Boomers are far more affluent these days. Whereas the Silent and Great Generations were all about saving and penny-pinching, baby boomers currently account for nearly $230 billion in sales for consumer packaged goods, outbuying age groups in products like coffee, magazines and diet soda, the study noted. What’s more, they will control 70 percent of the nation’s disposal income and stand to inherit $15 trillion in the next 20 years.
And there’s the fact that as they get older, they have more time to use that disposable income, according to the study: 67 percent said they would spend more time on their hobbies and interests when they retire.
So with these numbers staring companies in the face, why do so many brands ignore boomers in their marketing? They’re still stuck with outmoded ideas about how boomers think and what advertising to them should involve, the researchers explain. The study found that boomers are no more or less brand loyal or price conscious than younger consumers.
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