The generation currently most likely to shop for groceries and cook at home, the Baby Boomers, will be spending less and cooking less. Meanwhile, the Boomers’ demographic replacements, the Millennials, don’t cook at home nearly as much. When they do, they are primarily interested in value (i.e., price) and convenience. That adds up to a tectonic generational shift for the grocery industry, according to a joint study by Jefferies and AlixPartners. Boomers, currently the leading grocery shoppers, are headed for retirement and fixed incomes and decreased demographic significance. They’ll be spending less when they do grocery shop, they’ll be cooking… Read More
Categories: Baby Boomers, BlogMore Americans than ever are working past the age of 65, according to Labor Department statistics cited by The New York Times. As longevity and health care improves, and as the economy remains tight, more Matures, along with the leading edge of the Baby Boomers, are deciding to stay on the job. Employment among every age group above 65, including those above 75, has risen steadily. The ranks of the 65+ in the workforce swelled noticeably in the last year as the first Boomers reached the traditional retirement-age milestone. “The fact of the matter is that this aging-but-not-yet-aged segment of… Read More
Categories: Baby Boomers, Matures, Work, WorkplaceA new Allianz survey shows that Baby Boomers think it’s more important for a family to pass on its non-material legacy than to pass on its wealth. 86% of Boomers said it was important for elders to pass on their family’s history and stories to their descendants. 64% place importance on the inheritance of family possessions. But only 9% consider a financial inheritance to be vital. The Matures, the Boomers parents, generally agree with their offspring though they place a relatively higher priority on leaving behind some wealth for their kids. In comparison with the same survey conducted in 2005,… Read More
Categories: Baby Boomers, Blog, MaturesBoomers are losing their expected inheritance to their parents’ longevity, according to an analysis in the Wall Street Journal. Matures who have reached their late 60s have as much as a 50-50 chance of living well into their 80s and many into their 90s. Thanks to medical and longevity gains, 85-and-over is the fastest growing age group in the nation. But thanks to that longevity, the Boomers expected inheritance is shrinking as long-lived retirees use their resources to support themselves. It’s long been estimated that over $40 trillion in inheritance would change hands in the first half of this century…. Read More
Categories: Baby Boomers, Matures, WorkBaby Boomers give the most positive online ratings, Gen Xers the most negative ones, and Millennials fall in the middle, according to a Bazaarvoice study of 6 million online opinions. A majority of all generations are now online and all participate in reviewing and rating products on web sites. In fact, 82% of all online reviews and ratings are positive, according to the study. Baby Boomers now make up the largest group of online reviewers at 45%. They are also the most likely to give the highest (5-star) ratings to products. Not surprisingly, Gen Xers tend to be the harshest critics… Read More
Categories: Baby Boomers, BlogAs the Baby Boomers near their golden years, Hollywood is right there with them. A spate of movies aimed at older demographics and featuring stars in their 50s and 60s reflects the fact that Boomers are proving to be the most reliable movie-going generation. In many ways, Boomers are the “movie generation” having grown up in an era when cinema was the premier form of entertainment. Now, nearing or in retirement, Boomers have more time and money than younger generations and still have a fondness for movies. According to the MPAA, moving going has declined among every demographic except older… Read More
Categories: Baby Boomers, Blog, WorkThis week’s Grandparents’ Day is an appropriate time to notice that Baby Boomers now dominate the Grandparent demographic. According to statistics cited by Newsday, Boomers now make up a majority of grandparents. The average grandparent is a Leading Edge (Early) Boomer (64). The average new grandparent is a Late Boomer (47) The new identity of many Boomers as grandparents is important because of their involvement and commitment, financial and otherwise, in the lives of their grandchildren. Boomer grandparents spend over $35 billion annually on their grandkids. Overall, 52% of grandparents help fund their grandchildren’s educations and 45% help pay for… Read More
Categories: Baby BoomersMillennials are finding it tough to land jobs and it’s not just because of the economy. In many cases, they may be their own worst enemies in the application and interview processes. Recruiting firm Adecco surveyed hiring managers and found them more likely to hire Boomers than Millennials, in many cases because of the mistakes that Millennials make when applying and interviewing. Managers surveyed were three times more likely to hire a Boomer than a Millennial and they weighed in on the key mistakes that Millennials are making. The top mistake Millennials make is wearing inappropriate attire to an interview,… Read More
Categories: Baby Boomers, Generations, WorkplaceMany Baby Boomers are working past retirement by starting a second, or “encore,” career. Encore.org reports that 9 million Boomers have already launched their retirement careers. That’s about 10% and well more than the number of Boomers who have reached official retirement age. In their encore careers, Boomers are often looking to do something meaningful or “make a difference.” In that respect, they mirror Millennials who favor jobs that have a purpose or social conscience. Non-profits, education, and community work are obvious choices for meaningful work but Boomers are also finding meaning in starting their own businesses. Leading Edge (older)… Read More
Categories: Baby Boomers, Entrepreneurship, WorkplaceMultiple generations in the workplace is now a full scale reality for most. Because they are working side by side, CareerBuilder conducted a side-by-side comparison of Older Boomers’ and Millennials’ attitudes at work, finding both similarities and differences: • Both prefer face-to-face communication, Boomers (60%) slightly more than Millennials (55%). Millennials (35%) like email more than Boomers (28%) but both disdain the phone (<12%). • Boomers (62%) are more likely to say you should stay at job for 3 or more years than Millennials (53%). Millennials (47%) believe you should move up once you’ve learned enough. If you do your… Read More
Categories: Baby Boomers, Generations, Workplace