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This Packaged Facts report examines the baby boomer market, defined as American consumers born between the years of 1946 and 1964 and currently falling in the 38-56 age range. While the number of consumers in this 76-million-strong generation remains roughly stable over time, the baby boom generation constitutes over 26% of the U.S. population. The current aggregate income of baby boomers is $4.1 trillion, and as boomers are in their prime earning years, this much targeted demographic is even more important to - and poses a greater challenge for - marketers than it has been in the past.
The baby boom generation continues to gray, but they are not accepting aging in the same way their parents’ generation did. Boomers are fit, have high incomes, and want to stay fashionable and have fun. They are the targets of unprecedented marketing, yet are not wedded to particular brands and are skeptical of media pitches. And, as they continue to outspend their earnings, many face inadequate retirement savings and are recognizing the need to address their long-term financial futures.
Information on how boomers are spending-and saving-their money and what messages they respond to is crucial to successfully reaching the group that holds the greatest financial clout in the United States, and will continue to do so for years to come.
This report provides key data and analysis for this complex, high-income group of consumers: what they like, how they spend their money, and what messages appeal to them. It features seven focus sections—Financial Services; Housing and Household Goods; Automotive and Auto Care; Computers, E-Commerce, and Communications; Media, Entertainment, and Travel; Personal Goods and Consumables; and Health, Fitness, and Healthcare—which are based largely on current Simmons Market Research Bureau data on U.S. consumer purchasing, ownership, and product usage patterns.
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