Nielsen released some great stats on the Baby Boomer generation. 78 million is no small number and the spending power of this group is huge. If you haven’t created a vertical marketing strategy for this demo we highly suggest you do. Here is a great excerpt from the report that you can find here:
Born between the years 1946-1964, the oldest of the Boomers are beginning to retire. But today’s middle aged and older consumers are different than their predecessors. The conventional wisdom that they spend little, resist technology and are slow to adopt new products needs to be re-assessed. Boomers are an affluent group who adopt technology with enthusiasm (think about the number of parents or grandparents who regularly send e-mails or upload photos to Facebook and other sites). They have also shown a willingness to try new brands and products.
But the facts Nielsen releases are even more surprising…
- Dominate 1,023 out of 1,083 consumer packaged goods categories
- Watch the most video: 9:34 hours per day
- Comprise 1/3 of all TV viewers, online users, social media users and Twitter users
- Time shift TV more than 18-24s (2:32 vs. 1:32)
- Are significantly more likely to own a DVD player
- More likely to have broadband Internet access at home
With insights like this it is hard to ignore this market. The next step is to understand how your product or service can resonate with this demographic. With some effort Boomers can offer an opportunity for people who know how to connect with them.