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… Read More
Categories: Advertising, Baby Boomers, BlogMillennial investors are more conservative and less trusting than other generations of investors, according to a recent Accenture survey. 43% describe themselves as conservative and say they prefer (27%) the “tried and true” compared to 31% and 19% of Boomers, respectively. Millennials are also much more likely to consult other sources and not rely solely on the advice of a financial professional (28% vs. 7% of Boomers). 44% of Millennials say they do a lot of independent research before deciding to buy or sell. The good news for financial advisors: over 40% of Millennials say they are determined to build… Read More
Categories: Blog, Financial ServicesThe disparity in wealth between Baby Boomers and Millennials is changing the demographics of restaurant clientele. In the past, older generations were more apt to cook and eat at home while younger generations preferred the luxury and convenience of eating out. Now the Boomers, a generation that came of age during the explosion of chain restaurants and fast food, dominate the restaurant market even as they near retirement. Meanwhile, Millennials who still like the convenience of dining out don’t have the means to do it. Even as Millennials grow into adulthood, jobs, and careers, the number of them patronizing restaurants… Read More
Categories: Baby Boomers, BlogBack in 2009 when Pew took a look at the generations online, their survey revealed that while Millennials were the Internet’s most avid users, Gen Xers were the biggest online buyers. Four years later, a Forrester study reveals that’s still pretty much the case. According to the survey, Millennials are the most likely to use the internet to shop, with 84% having done so in the last 3 months compared to about 80% of Gen Xers. However, Xers spent the most online, about $561 a piece during the 3 months covered by the study compared with $489 from Millennials and… Read More
Categories: Baby Boomers, Blog, MaturesSince their emergence as the youth market decades ago, Baby Boomers have expanded the consumer demand of each life stage or demographic they’ve passed through. Always avid consumers, Boomers promise to do the same at the senior stage, according to a recent analysis by McClatchy. While the discussion of Boomer aging has centered the effects of their retirements and entitlement demands, others see a key consumer generation entering a whole new market phase. “It’s only in Washington that 100 million people are viewed as an unaffordable cost and financial burden,” said an AARP exec of the new seniors. “In the… Read More
Categories: Baby Boomers, Blog, WorkThe Slow Realization of the New Gen X Consumer The Slow Realization of the New Gen X Consumer
Categories: BlogThe Pew study of Millennials from a few years ago got everyone’s notice with the factoid that most Millennials sleep with their cell phones at hand. Now, a new Cisco study takes look at Millennials waking relationships with their smartphones and finds them inseparable. In fact, Millennials don’t just sleep with their smartphones. 75% use them in bed before going to sleep and 90% check them again first thing in the morning. Half use them while eating and third use them in the bathroom. A third check them every half hour. Another fifth check them every ten minutes. A quarter… Read More
Categories: Blog, Downloadable MediaA new study by Nielsen shows that Generation X responds to authenticity in advertising above other qualities and approaches. Advertising that is calm, reasonable, and based on real life will appeal to Xers in contrast to more aspirational, extreme, and exaggerated styles that appeal to Millennials. The study found some subtle differences between men and women of Generation X. Gen X women are more responsive to sentimentality, while Gen X men respond to competence. Both place a high value on real-world, relatable situations. The study acknowledges that Gen X is smaller than the others but represents an opportunity for marketers… Read More
Categories: Advertising, Blog, WomenA new study by comScore shows that Millennials are more responsive to ads they view when watching “digital” content than they are to ads they see on TV. The study measured the “lift,” or influence on brand preference, that each ad medium produces. It shows that while Millennials are less likely to influenced by advertising than any other generation, that difference disappears in the case of digital advertising. In general, the study shows, younger generations are less impressed with ads than older ones. In fact the average “lift” for Boomers and Matures is almost 50% higher than for Millennials for… Read More
Categories: Advertising, BlogMarketers and advertisers have all the reading material on Millennials they could ever want, in the form of books, surveys, and market research. Now, a new unit of NBCUniversal called Curve Films has produced a film that documents Millennials’ outlook and position in the marketplace. The film, “Y Now,” is aimed at Madison Avenue, and distills research about Millennials into 22 minutes of interviews with 9 real live Millennials. Each interview segment is designed to represent a different stage or type of the Millennial generation from those just out of school to those who have started careers and families. It… Read More
Categories: Blog, Product Design