Everyone is talking about the Baby Boomer trend, and that we all need to track their needs to ensure business success. Who are these baby boomers anyway?
Trends are created when a large or growing group of people needs or wants a particular product or service. The Baby Boom generation is the largest group of people on earth who need similar products. Therefore, they are the largest creators of trends today.
The 50+ market is America’s fastest growing market segment. Approximately 1.5 million people over the age of 50 live in the San Francisco Bay Area. The total net worth of people over 50 in the Bay Area is five times that of other Americans. Those 65+ enjoy twice the discretionary income of people 25 to 34.” - Active Over 50 Magazine
A little more about Baby Boomers…
77 million Americans who were 50 or older as of 2007 controlled 67% of the country’s wealth. This group has $2.3 trillion in disposable income. Boomers are approximately 77.4 million strong. Every 8 seconds, another Boomer turns 50…. 10,000 – 50 year olds are being created daily!
Boomers can expect to live longer than any previous generation and the opportunity for services and products that will meet their future needs becomes apparent. Boomers are in a position to pay for such products and services. This group has money to spend. 50+ years old earn about $2 trillion annually and represent 50% of all discretionary spending. Boomers spend over $2.1 trillion a year of this unprecedented wealth on consumer goods and services.
- $79 billion on home improvements last year alone.
- They have $28 trillion in assets and control 67% of the nation’s wealth.
- Is the most affluent consumer group that exists.
- Account for over 40% of total consumer demand.
- Average $24,000 in annual disposable income.
- Control over 48% of all discretionary purchases that occur.
- Own over 80% of all money in savings accounts.
- Own 79% of America’s financial assets.
- Spend almost $2 Trillion on goods & services each year.
- Own 62% of all large Wall Street investment accounts.
- Visit malls more often than any other age group.
- Dine out 4-5 times per week.
- 74% use the Internet to find health information.
- 78% make online purchases.
- Boomers represent 50% of car purchases
- 74% of all prescription drug purchases.
- Over 70% are willing to try new brands.
- Spend over $29 Billion yearly on grandchildren’s gifts.
- Women over 50 spend $21 Billion on clothes annually.
Immediately following WWll, the men returned from war and started families. Between 1946 and 1964 seventy-six million babies were born in the USA, one billion babies world wide. That was an eighteen-year boom in babies. The main thing to know is that the Baby Boomers are not only the largest group, they also control approximately 65% of all the money in the world.
Trends are created when a large or growing group of people needs or wants a particular product or service. The Baby Boom generation is the largest group of people on earth who need similar products. Therefore, they are the largest creators of trends today.
77 million Americans who were 50 or older as of 2007 controlled 67% of the country’s wealth. This group has $2.3 trillion in disposable income. Boomers are approximately 77.4 million strong. Every 8 seconds, another Boomer turns 50…. 10,000 – 50 year olds are being created daily!
Boomers can expect to live longer than any previous generation and the opportunity for services and products that will meet their future needs becomes apparent. Boomers are in a position to pay for such products and services. This group has money to spend. 50+ years old earn about $2 trillion annually and represent 50% of all discretionary spending. Boomers spend over $2.1 trillion a year of this unprecedented wealth on consumer goods and services.
- $79 billion on home improvements last year alone.
- They have $28 trillion in assets and control 67% of the nation’s wealth.
- Is the most affluent consumer group that exists.
- Account for over 40% of total consumer demand.
- Average $24,000 in annual disposable income.
- Control over 48% of all discretionary purchases that occur.
- Own over 80% of all money in savings accounts.
- Own 79% of America’s financial assets.
- Spend almost $2 Trillion on goods & services each year.
- Own 62% of all large Wall Street investment accounts.
- Visit malls more often than any other age group.
- Dine out 4-5 times per week.
- 74% use the Internet to find health information.
- 78% make online purchases.
- Boomers represent 50% of car purchases
- 74% of all prescription drug purchases.
- Over 70% are willing to try new brands.
- Spend over $29 Billion yearly on grandchildren’s gifts.
- Women over 50 spend $21 Billion on clothes annually.
'백세현역Nevertiree' 카테고리의 다른 글
| How To Plan For A Second Career from Fobes (0) | 2012.03.01 |
|---|---|
| Why US Baby Boomers are Slow to Buy Smart Phones: Technophobes or Value Buyers? (0) | 2012.02.13 |
| Harnessing the potential of older generations (0) | 2012.02.11 |
| United States, 2010 Census Data / Apportionment Data (0) | 2012.02.06 |
| 좀 더 행복하게 늙어갈 수 있지 않을까? (0) | 2012.02.05 |
| 내 생각을 훔쳐가는 도둑이 있다! (0) | 2012.01.12 |
| "단카이 세대, 개나 물어가라." (0) | 2012.01.09 |
댓글