Shuyang Wang, Team of Amanda, Brittany, Kesiri and Shuyang
The population born between 1964 and 1964is commonly referred to as the Baby Boom generation (Census, 2006). Understanding the demographic characteristics of the Baby Boomers in the present day is very essential because Baby Boomers now comprise what is seen as one of the largest generations in U.S history. In 2013, Baby Boomers are ages 48 to 66. There are about 77 million boomers (the largest single generation surpassing children) in the U.S. today accounting for approximately $2 trillion in marketplace spending clout (Brandweek, March 2006.).
The population size of Baby ...view middle of the document...
The pursuit of healthy living is hardly unique to Boomers. Boomers are creating a way of living. While this aging population has a broad array of products from which they choose items that best fit their individual needs, they are also looking for more from companies than just the product or service they are buying. They want the experience of the purchase to satisfy mental, emotional and spiritual needs as well. In this sense, aging consumers are branding themselves by creating a way of living. They don't stick to precise industry product categories, but customize personalized regimes from many categories that make them feel empowered. There is an important historic component to this generation of aging consumers. The spirit is as strong today as yesterday for consumers in their 50s and 60s. This is the generation of movers and shakers that not only have witnessed all of the dramatic changes of the last 50 years but were the visionaries, innovators and inventors that gave us the personal computer, mobile communications and the World Wide Web, as well as brought social consciousness to the mainstream. Their "mindset" is informed by having matured in the context of social upheaval, consumerism and the rise of mass marketing and the expansion of communication forms like television, radio and telephones. While many are "set in their ways" they are also willing to try new things. Their willingness to do so is highly correlated to a specific health condition or "potential" behavior that they have monitored for long periods of time (years) through various media. At some critical juncture (doctor, confluence of headlines, friend's urging) they decide to take action and will, for example, try Tai Chi, go to the health club, cycle off of white flour, try herbal tea, etc. As all of this indicates, aging consumers do not transition rapidly into new behaviors or products, unless triggered by a serious condition (Hartbeat, 2006).
According to an online article, Pick Baby Boomers as Your Target Market for the Holidays, the Baby Boomer characteristics that should get your attention are: The leading consumers in 119 out of 123 CPG (Consumer Packaged Goods) categories; Spend more money on technology than Gen X or Gen Y – an average of $650 per month; 40% of all customers who pay for wireless service; Close to 100% own computers (and 41% own an Apple); 53% of them are on Facebook (driven in part by the arrival of grandchildren); 71% of Boomers go online every day; 66% send text messages (albeit not quite as many as their teenagers and grandchildren); Spend $7...