Baby Boomers represent one of the few growing markets around. While many marketers remain focused on the stagnant under-50 market, the 50+ market (40 million and growing) continues to show tremendous growth.
Baby Boomers (typically defined as those folks born between 1946 and 1964) are the largest buying group in America. They represent the generation with the greatest buying power in the history of the country (controlling approximately 70% of the nations wealth) and account for 40% of total consumer demand – even in a recession.
To attract this huge segment, a brand needs to:
• understand the segments that make up the 50+ market
• treat these customers with respect and dignity
• appeal to their desire to feel, think, act and stay young
• beyond products, offer “life-enhancing” experiences
• support their products with great service
• be positive, as people don’t want to be reminded that “time is winding down”
• develop communications that show you understand the audience
For insight into this demographic, check out babyboomer-magazine.com.
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