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Boomers Refuse To Leave
A huge target and not going away.
The median age of baby boomers is now roughly 52, well past marketing’s conventional threshold of 18-49 demographic relevance. But Unilever consumer research has revealed the group remains, as Eileen Kozin, director-consumer futures, told Advertising Age, “a huge target, and they’re not going away. They’re still going to be influential as they get older, and they’ve got the money to spend.”
Unilever’s researchers found that though only 45% of households today are boomers, because of their higher spending power they account for 60% of spending on package goods. Statistically speaking, they will continue to buy most the company’s products for the next decade, well beyond the relevance horizon of the average brand manager. Moreover, boomers are likely to retire later, work more after formal retirement and have far more disposable income than any prior generation of retirees.
The estimated 78 million boomers in the U.S. spend $46 billion annually on package-goods products (according to Information Resources Inc.). Various published estimates have put their total spending power for products and services at $2 trillion annually.
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