Oh those Boomers, how could we ever forget them? Depending on who you speak to the generation that was born after World War II, from 1945 to 1964, represents the largest demographic segment in the U.S., if not the world. 76 million Americans were born in that period, rejecting traditional values and growing up wealthier and happier than previous generations. For many years, marketers focused solely on this generation of consumers because of the enormous wealth and their need to spend it on something.
Traditional marketing theory has always focused on marketing to the up and coming generations. The logic followed that they had more disposable income, they were entering the stages of their lives were they were making big-ticket purchases on items such as cars and homes and because of the baby boom, there was more consumers in those segments. Fast forward to 2012, and the theory is undergoing a major transformation.
According to Nielsen, Boomers spend 38% of Consumer Packaged Goods dollars, however less than 5% of advertising dollars are currently targeted towards adults 35-64 years old (which includes my fellow Generation X’ers, born between 1965 and 1976 and the Boomers) You don’t have to be a math wizard, and I’m certainly not, to understand that there is a large opportunity for marketers.
Even better news is that Boomers have similar tastes as 18-35 year olds, including technology and online shopping. They represent 1/3 of one-third of all online users, social media users and Twitter users and because they watch the most video, up to 9:34 hours per day, they are an ideal market for online video applications. Reaching out to Boomers online and through technology has never been easier. Companies that recognize the consumption model has changed will gear their products and their marketing efforts towards the forgotten Baby Boom generation.