| I. Executive Summary
II. Boomer Demographics
Introduction
- Boomers Reach Middle Age
- Implications for Marketers
- How Baby Boomers Will Change Aging
The Boomer Population
- Boomers Over 77 Million Strong
- Boomers Driving Median Age of Population
- Two Boomer Cohorts
- Many Boomers Now Considered Mature
- Females Increasingly Outnumber Males with Age
- Whites Dominate Ranks of Boomers
- Black Boomers Have Different Values
- “Stonewall” Generation Part of Boomer Population
- Table 2-1: Age Distribution of Baby Boomer Population, 2002-2007 (number): From Age 38 to Age 61
- Table 2-2: Ratio of Mature Boomer Males to Females, 2002 vs. 2007 (number and percent)
- Table 2-3: Share of Baby Boomers by Racial Origin, 2002 (number and percent): Whites, African Americans, Hispanics, Asian/Pacific Islanders, Native Americans
Boomer Family Patterns
- Majority of Boomers Are Married
- ... Many More Than Once
- Boomers See Benefits of Marriage, Fidelity
- Boomers Have Fewer Children, but More Stepchildren
- Over Half of Boomer Households Are Without Kids
- Boomers Are “Sandwich Generation”
- Table 2-4: Share of U.S. Adult Population by Marital Status and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 4 Classifications
- Table 2-5: U.S. Adults in Households Without Children Present by Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (number and % of U.S. Adults): 3 Age Brackets
- Table 2-6: Share of U.S. Adult Population by Age of Children in Household and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 5 Classifications
Boomer Educational Patterns
- The First Educated Generation in History
- Gen X’s Educational Achievement Gaining on Boomers
- Table 2-7: Share of U.S. Adult Population by Highest Level of Educational Attainment and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 6 Classifications
Boomer Employment Patterns
- 80% of Boomers Are Employed
- Table 2-8: Share of U.S. Adult Population by Employment Status and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 5 Classifications
- Boomers Have Changed the Workplace
- Many Boomers Will Continue Working
Boomer Housing Patterns
- Over a Third of Boomers Are Southerners
- Nearly 80% of Boomers Live in Houses
- Boomers Trail Their Elders in Home Ownership
- Table 2-9: Share of U.S. Adult Population by Region and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 4 Classifications
- Table 2-10: Share of U.S. Adult Population by Type of Residence and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 3 Classifications
- Table 2-11: Share of U.S. Adult Population by Kind of Residence and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 3 Classifications
Boomers and Finances
- 45- to 54-Year-Olds Have Highest Incomes ...
- ... And Also the Highest Expenses
- Less Than Half of Boomers Have Any Investments
- Home Mortgage Most Common Loan for Boomers
- Will Boomers Be Able to Afford Retirement?
- Company-Based Retirement Plays Major Role in Retirement Strategy
- Two in 10 Will Be Self-Sufficient in Retirement
- Will Retiring Boomers Overburden the Young?
- Will Retiring Boomers Bust the Economy?
- Are Boomer Richer Than Their Parents?
- Table 2-12: Types and Value of Investments Owned by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 16 Types/6 Values of Investments
- Table 2-13: Types of Loans Held by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 8 Types
Boomers and Health
- Physical Changes Accompany Aging
- Oral Maintenance Becomes an Increasing Concern
- Hearing Loss
- Changes to the Skin
- Menopause
- Reduction of Sexual Functioning
- Baldness or Thinning Hair
- Heart Disease
- Boomers Attempt to Stave Off Age with Exercise
- Swimming Tops List of Boomer Sports
- “Boomeritis” Plagues Aging Athletes
- Medical Advances a Double-Edged Sword
- Table 2-14: Physical Fitness Programs/Exercise by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 5 Classifications
- Table 2-15: Top Sports Activities Participated in by Age 35-54 Population, 2001 (number and % of U.S. Adults): 6 Classifications
Boomer Psychographics
- Boomers’ Attitudes, Tastes, and Preferences Established in 1950s and 1960s
- Factors That Influenced the Boomer Cohort
- Growing Up in the Shadow of the Bomb
- Birth Control and an End to “Reproductive Tyranny”
- Turning On and Dropping Out
- Influences of the 1970s
- Interest in the Outdoors
- Interest in Healthy Food and Alternative Healthcare
- Boomers Believe World Can Be Changed
- Peace Corps, An End to Hunger, Ben & Jerry’s Other Examples of Boomer Optimism
- Health a Key Factor in Autonomy, Self-Esteem
- Appearance Important, Particularly for Women
- Aging More Psychologically Stressful for Men?
- Americans Picture Themselves Younger Than Their Chronological Age
- Life Stages No Longer Set in Stone
- Boomers’ Values, Politics, Evolve with Age
III. The Boomer Market
- Figure 3-1: Estimated Size of U.S. Baby Boomer Market, 1998-2002 (dollars)
Market Size and Growth
- Boomer Market Reaches $2.5 Trillion
- Boomers Dominate Market for Most Consumer Goods and Services
- Boomers Fill the Highest Income Brackets
- Female Boomers Have Lower Incomes
- Table 3-1: Estimated Size of U.S. Baby Boomer Market, 1998-2002 (dollars)
- Table 3-2: Boomer Expenditures for Consumer Products and Services, 2000 (dollars): 9 Categories
- Table 3-3: Share of U.S. Adult Population by Household Income Bracket and Age Grouping: 18-34, 35-54, and 55 or Over, 2001 (% of U.S. Adults): 11 Classifications
- Table 3-4: Household Income Bracket for Age 35-54 Population by Gender, 2001 (% of U.S. Adults): 11 Classifications
Factors to Market Growth
- Americans 45-54 Have Highest Income
- Boomers Still Building Net Worth
- Boomers’ Spending Ability Proven
- Figure 3-2: Projected Growth of Baby Boomer Market, 2002-2007 (dollars)
Projected Market Growth
- Market to Near $2.6 Trillion by 2007
- Table 3-5: Projected Growth of Baby Boomer Market, 2002-2007 (dollars)
IV. Boomers As Consumers
Boomer Spending on Consumer Products and Services
- Note on Statistics
- Households 35-54 Have Highest Annual Expenditures
- Boomers Spend More in Virtually All Categories
- Boomers Particularly Important Consumers of Products/Services
- Table 4-1: Average Annual Household Expenditures: Age 35-54 vs. Total U.S., 2000 (dollars and % of U.S. Adults): 17 Categories
Boomers and Financial Services
- Less Than Half of Boomers Have Any Investments
- Home Mortgage Most Common Loan for Boomers
- New Products Created for Boomers
- Boomer’s Financial Services Needs Not One-Size-Fits-All
- Some Boomer Financial Service Needs Are Predictable
- Table 4-2: Types and Value of Investments Owned by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 16 Types/6 Values of Investments
- Table 4-3: Types of Loans Held by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 8 Types
Boomer Patterns for Food and Beverages
- Boomers Spend More on Food
- Boomers Health-Conscious, But Eat What They Like
- Boomers Drive Growth of Vitamins, Food Supplements
- Food Marketers Mobilize for Growth of Nutraceutical Market
- Boomers Spend Big on Eating Out
- Empty-Nesters Enjoy Eating Out
- Boomers Not Immune to Fast Food Temptation
- Table 4-4: Grocery Expenditure Patterns by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 11 Expenditures
- Table 4-5: Low-Fat/Fat-Free Food Items Purchased by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 8 Types
- Table 4-6: Top Chain Restaurants Patronized by Age 35-54 Population, 2001 (number and % of U.S. Adults): 8 Types
Boomers and Automobiles
- Upper Midsize, Mini Vans Fill Many Boomers’ Driveways
- Boomers Developing a Sweet Tooth for “Road Candy”
- Boomers “Age” the Motorcycle Population
- Boomer-Geared Cars Will Accommodate Aging
- Table 4-7: Car Types Most Recently Acquired by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 19 Types
Boomer Patterns for Entertainment and Recreation
- The Beat Goes On
- Boomers Fuel Growth in Travel Industry
- Over 50 Travelers Spend More, Stay Longer
- Adventure Travel a Hit with Boomer Travelers
- Travel by Women on the Rise, Adventure Travel Has Strong Appeal
- Boomers May Spark Revival in Group Travel
- Table 4-8: Top Types of Leisure Activities by Age 35-54 Population, 2001 (number and % of U.S. Adults): 23 Types
- Table 4-9: Travel and Vacation Patterns by Age 35-54 Population, 2001 (number and % of U.S. Adults): 7 Patterns
Boomers and Apparel
- Boomers an Underappreciated Market
- Boomers Want to Stay Fashionable
- Nearly 70% of Boomers Bought Athletic Shoes Last Year
- Nike Is Leading Athletic Shoe Among Boomers
- Table 4-10: Boomer Spending on Apparel: All U.S. Households vs. Age 35-54 Households, 2002 (dollars): 8 Categories
- Table 4-11: Top Sneaker/Athletic Shoe Types Purchased by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 8 Types
- Table 4-12: Top Sneaker/Athletic Shoe Brands Purchased by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 16 Types
Boomers and Healthcare
- Boomers Spend Big on Healthcare
- Boomers Expected to Remain Active Longer
- Boomers Bring Consumerism to Healthcare
- Boomers Boost Demand for Plastic Surgery and Joint Replacements
- Nearly 60% of Boomers Use Non-Prescription Medications
- A Quarter of Boomers Take Multi-Vitamins
- “Active Adult” Communities Trend for Boomers
- Boomers to Reshape Elder Care
- Desire for Individuality Extends to Death
- Table 4-13: Non-Prescription Products for Ailments Used by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 11 Types
- Table 4-14: Nutritional Supplement Products Used by Age 35-54 Population: Overall and by Gender, 2001 (number and % of U.S. Adults): 19 Types
Boomer Patterns for Household Furnishings and Equipment
- Empty Nesters Refeather Their Homes
- Boomers Focus on Cosmetic Home Improvements
- Table 4-15: Top Home Improvement Purchases by Age 35-54 Population, 2001 (number and % of U.S. Adults): 29 Classifications
Boomers and Personal Care
- Boomers Spend More Than Other Age Groups on Personal Care Products and Services
- Boomers Seek Anti-Aging Skincare Products
- Boomers Also Concerned About Oral Hygiene
- Table 4-16: Usage Rates for Moisturizers/Creams/Lotions by Women Age 35-54, 2001 (number and % of U.S. Adult Females): 4 Classifications
- Table 4-17: Types of Moisturizers/Creams/Lotions Used Most Often by Women Age 35-54, 2001 (number and % of U.S. Adult Females): 5 Classifications
Boomers as E-Consumers
- Boomers Big on Cell Phones
- Boomers Are Internet Savvy
- Nearly a Third of Boomers Make Purchases Online
- Table 4-18: Internet Ordering by Age 35-54 Population, 2001 (number and % of U.S. Adults): 22 Product Types
Boomer Shopping Patterns
- Boomers Not Crazy About Shopping
- Boomer Patience for Shopping Likely to Decrease Further
- Boomers Happy to Let Fingers Do Walking
- Wal-Mart Most Popular Boomer Shopping Destination
- Table 4-19: Top Chain Retail Stores Patronized by Age 35-54 Population, 2001 (number and % of U.S. Adults): 24 Types of Retail Stores
Boomer Retail Preferences
- Boomers Like Choices
- Boomers Pay More for Quality But Like Bargains
- Several Retailers Well Targeted to Boomers
V. Boomer Use Of Media
VI. Marketing To Boomers
The Marketing Landscape
- Marketers Know Boomers, But Age Brings Change
- What Worked Before Won't Work with Boomers
- Boomers Experienced at Filtering Hype
- Experimentation a Mixed Blessing for Marketers
- White, Affluent Stereotype Alienates Many Boomers
- Boomers Not Planning to Slow Down
- Boomers Don't Want to Change Lifestyle Because of Age
- Product Must Meet Boomer Needs—As They Define Them
- Humor a Key Marketing Ingredient
- Boomers Want to Have Fun
- Mid-Life Crisis to Play Out in Marketplace
- New Experiences Motivate
- Boomers Also Seek Balance, Simplicity
- Five Key Values Motivate Mature Consumers
- Autonomy and Self-Sufficiency One Half of Equation . . .
- . . . Balanced by Social and Spiritual Connectedness
- Altruism Tied to Social and Spiritual Connectedness
- Transition to Altruism May Be Confusing for Marketers
- Personal Growth Also a Goal
- Revitalization Reinforces Internal Self-Renewal
- Nostalgia Appeals to Boomers
- Rock Music Captures Boomer Attention
- Show Images Boomers Can Identify With
- Boomers Identify Younger Than They Are
- “Ageless” Theme Also Effective
- Breaking Taboos Can Appeal to Boomers
- Package It as Hip
- Boomers Starved for Contemporary Role Models
- Use of Celebrities Not Particularly Important
- Boomers Not as Fussy About Language as Those Older Than Them
- Don't Address Them as an Age Group
- Companies Must Work to Regain Boomers’ Confidence
VII. Examples Of Campaigns And Strategies Targeted To Boomers
Overview
- Marketers Take Aim at Lucrative Boomer Demographic
- Household Furnishing, Computer Ads Tend Not to Target Boomers
Financial Services
- MasterCard’s “Priceless” Campaign Reflects Changing Boomer Values
- Citibank Invites Boomers to “Live Richly”
- Boomers Like to Feel Intelligent
- Allstate Targets Women with Recipe Ad
- Allstate Also Targets Boomers with the Beatles
- UBS Offers Financial Fitness
Food and Beverages
- Uncle Ben’s Targets Boomers’ Adventurous Palates
- Energy Bars Appeal to Boomers’ Desire to Fight the Clock
- Crystal Light Invites Female Boomers to Enjoy the Journey
- SPLENDA Appeals to Boomers’ Activist Pasts
Automobiles
- “Road Candy” Appeals to Boomers
- The Thinking Man’s Convertible?
- Boomers Also Drawn to Affordable Fun
- Can Four Doors Be Cool?
- Marrying Comfort and Cool
- Volkswagen Offers Boomers Their Soul
Travel
- Tour Companies, Resorts, and Travel Destinations Understand Importance of Aging Boomer Market
- Adventure Travel Has Strong Appeal for Female Boomers
- Club Med Sells “Community”
Apparel
- Dearth of Clothing-Related Advertising Reflects Market Lack
- Mainstream Stores Include Older Women in Advertising
- Gap Reaches for Lost Boomer Business
- Nostalgic Brand Attempts to Rebound
- Bigger Women Want Fashion, Too
Healthcare Services
- Few Healthcare Providers Advertise Nationally
- Women Bombarded by Anti-Aging Ads
Personal Care
- Olay Preaches Self-Acceptance
- Anti-Aging Products Proliferate
- The Promise of Whiter Teeth
Appendix I: Examples Of Consumer Advertising
Appendix II: Addresses Of Selected Marketers
|
0 items
