Baby Boomers “Most Valuable Generation”
Posted On February 21, 2013
While everyone seems focused on capturing the attention of Millennials, the Baby Boomers are still the “most valuable generation,” according to a Nielsen report. Over the next five years, Boomers are expected to account for 50% of all consumer spending and to control 70% of all disposable income, according to Nielsen.
Fueled by aging Boomers, the over-50 cohort will account for 50% of the population in 5 years. That age group is growing at 3 times the rate of the coveted 18-49 demographic. Still, it accounts for only 5% of advertising.
Boomers stand to inherit $15 trillion over the next 20 years and, as they retire, they intend to spend what they have – two thirds say they will spend more on their hobbies and interests.
Moreover, Boomers now account for a third of heavy internet users, online consumers, and social networkers, offering marketers as much opportunity to reach them as the plugged-in Millennials.