The Boomer Generation is 80 million strong and has always had the distinction as the largest generation in US history. And they dominated marketers’ mindsets as they matured. But as the Boomers have aged and are moving beyond the coveted 18-49 category, marketers have stopped focusing on them. Which this report points out is probably not wise. The reality is Boomers are too valuable to ignore.
The Simple Math
- 44% of US Adult Population (80 million)
- As they join the 50+ segment it is reaching 100 million consumers.
- Between now and 2030, the 18-49 segment is expected to grow +12%, while the 50+ segment will expand +34%.
The report highlights “the facts that demonstrate that Boomers have the most and spend the most, that they are more tech savvy and more marketing-friendly than believed, but most importantly, that their business is winnable and losable. They are a much more sensitive and dynamic cohort than most realize.”
In the next five years, Boomers are set to control 70 percent of the disposable income in the U.S. What’s more, they stand to inherit $15 trillion in the next 20 years. And Boomers dominate 119 of 123 consumer packaged goods categories (94%). They spend close to 50% of all CPG dollars, yet it is estimated that less than 5% of advertising dollars are targeted to adults 35-64.
- 63% of Boomer HH Have At Least 1 Person Working
- 49% of Total CPG Sales ($230 Billion)
- Boomers spend close to $90 billion per year on cars
- Boomers are 40% of Customers Paying For Wireless
- Boomers are 41% of Customers Purchasing Apple Computers
Boomers Are Into Technology
Boomers represent one-third of all online and social media users. Close to another third of them – 29 million – say that they are heavy users of the Internet with over 8 million of them spending 20+ hours a week online.
- 33% of all Social Media & Twitter
- 53% of Boomers are on Facebook
- 33% Are Heavy Internet Users
- 33% Shop Online
Beyond their traditional love of television, it is the Boomers’ increasing presence of free time that is driving their heavy media consumption. They are consumers who consume media because they like to and they can.
Television viewership increases with age, and the Boomers remain one of the medium’s top viewing groups. On average, they spend 174 hours a month watching television, second only to the Traditionalists 65+ who log 205 hours of viewing per month.