|
|
Baby Boomers are blowing up the myth that the 18-34-year-old customer is king. There are 116 million Boomers in the U.S. and last year they spent $2.9 trillion, a figure that has risen 45% in the past ten years, making Boomers prime targets for marketers that craft the right strategy.
Consumers 50 and older no longer fit the stereotype of fixed incomes, health concerns and aversion to change. Instead, Boomers love to buy – and they have the money to do it.
According to USAToday, marketers who make them feel good, hip, smart, techie and, yes, even sexy, are capturing their interest … and their marketing dollars.
“This is a demographic dynasty," says Matt Thornhill, 50-year-old and founder of the specialty research firm The Boomer Project. "If you don't have a strategy for making your product relevant to 50-plus consumers, you will have a very rough time over the next 20 years."
So does your product or service have a play in this ever-growing and influential group of spenders? If so have you formulated a message and story that resonates with their current interests and needs? Give it some thought. You may just expand your demographic reach.
Tags: