November 3, 2009

Baby-boomers still booming it.

Once a generation started to retire, conventional wisdom said they’d start acting like retirees. Cutting spending, locked into old ways — the implication was therefore that they weren’t worth the marketing effort.

But not baby boomers, baby. They’re not accepting a declining income as readily as previous generations. And in mass alone, they’re still big:

• Households age 50+ account for nearly half consumer income & spending

• Boomer delayed every life stage transition & will delay retiement

• Most boomers are empty nesters, who often subsidize their adult kids

So, while the youth marketing rule is to aspire up (think 2-4 years older when marketing to ‘kids’), you can do the opposite in terms of marketing to the Boomer set — just think younger by a decade or 2.
Less AARP. More PAAR-TY!