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Dave Austin at Marketing Research Association wrote an interesting article on this subject. And he hits the nail on the head:
More than half of Baby Boomers (52 percent) told us in a recent survey they are more willing to splurge on purchases now than in their younger years. Despite those facts, less than 10 percent of marketing dollars specifically target this demographic.
Anyone whose business involves selling something can tell you there is no shortage of information and research about connecting with millennials. But as millennials capture marketers’ attention, 75 million influential customers, between the ages of 51 and 69, are out there ready to spend. Influent50 research shows that marketers today are either speaking to Baby Boomers ineffectively – or ignoring them altogether – and the impact is so profound that Boomers themselves are taking notice.
Today we know more about consumers than ever before and the numbers speak for themselves. In the U.S., people age 50 and over control 70 percent of the entire nation’s disposable income, spending $230 billion on consumer packaged goods annually.
More than half of Baby Boomers (52 percent) told us in a recent survey they are more willing to splurge on purchases now than in their younger years. Despite those facts, less than 10 percent of marketing dollars specifically target this demographic.