TimmyH
The Boomer Consumer
September 23rd 2008 03:24
According to an article in TV Land, “Boomer Consumer’s” are out-spending their Gen Y and X juniors but are also spending more of their disposable cash on others.
Perhaps a reflection of the stage of life they are in, Baby Boomers, spend almost 3 times as much money on spouses, double on their kids and triple on their teens. This has led to a reappraisal of the new marketing strategies of recent years that have targeted Generation Y as the next big spenders.
TV Land’s President Larry Jones says "... it's a mistake to underestimate the power of people in their 40s and 50s... knowing that this generation has so many dependants, the means to buy the products that appeal to them, and the willingness to try new brands, is powerful information... "
Interestingly, Baby Boomers are less likely to chase brands than their younger counterparts and few are brand-loyal when other options exist. This indicates that the Boomer Consumer is up to date with market and industry changes and is more than capable of adapting.
Boomers look for value on the whole and are less intrigued by gimmicks and POS advertising. In short, the Boomer Consumer lives on.
More findings from the report can be found below…
Really Long Link
Image By - http://www.boomerproject.com
Perhaps a reflection of the stage of life they are in, Baby Boomers, spend almost 3 times as much money on spouses, double on their kids and triple on their teens. This has led to a reappraisal of the new marketing strategies of recent years that have targeted Generation Y as the next big spenders.
TV Land’s President Larry Jones says "... it's a mistake to underestimate the power of people in their 40s and 50s... knowing that this generation has so many dependants, the means to buy the products that appeal to them, and the willingness to try new brands, is powerful information... "
Interestingly, Baby Boomers are less likely to chase brands than their younger counterparts and few are brand-loyal when other options exist. This indicates that the Boomer Consumer is up to date with market and industry changes and is more than capable of adapting.
Boomers look for value on the whole and are less intrigued by gimmicks and POS advertising. In short, the Boomer Consumer lives on.
More findings from the report can be found below…
Really Long Link
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