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Boomer demographics: Things retailers must know

Marketing VOX, 6/11/08

Abstract:

As a cohort, the 78 million Americans born between 1946 and 1964 spend an estimated $2.3 trillion each year on consumer goods and services.

An economic force to reckon with, boomers lead differing lifestyles and are in different life stages; they also have diverse buying behaviors and varied political agendas.

The two groups have different frames of reference for decision-making, shopping, spending leisure time, cultural icons and involving themselves in media and popular culture.

Older boomers (born 1946-1954) are more likely to…

    - Remember John F. Kennedy's assassination and the Vietnam War
    - Have listened to Bob Dylan
    - Be empty nesters (86 percent)
    - Spend leisure time traveling and gardening

Younger boomers (born 1955-1964) are more likely to…

    - Remember Watergate and the Iranian hostage crisis as significant events in their younger years
    - Have listened to Bruce Springsteen
    - Still have someone under 18 living at home (36 percent)
    - Participate, or have children who participate, in sports
    - Spend time on kid-focused activities
    - Say labels are more important to them while shopping (44 percent vs. 36 percent for older boomers)

Members of this generation use the internet, email and instant messaging. Some blog, some use iPods and many have PDAs. They also still read newspapers and listen to the radio, using a combination of both old and new media to make purchasing decisions:

    - 95 percent watch TV, with 77 percent of their viewing occurring between 7:30 pm and 11 pm.
    - Two-thirds subscribe to cable TV and are most likely to watch Discovery Channel, A&E, the Food Network, ESPN and Fox News.
    - They don't like reality shows.
    - 76 percent listen to the radio - more than any other demographic.
    - 49 percent listen to the radio during morning-drive time.
    - Radio programming preference varies, from oldies to country to talk formats.
    - 6 percent subscribe to satellite radio.
    - 57 percent read their local daily newspaper regularly.
    - 68 percent read their weekly community paper.
    - 87 percent surf the internet, spending an average of 123 minutes online daily.
    - 93 percent regularly or occasionally use the internet to research products   
before they buy them.
    - 46 percent say online searches are triggered by             traditional advertising or an article they've read; 45 percent are prompted by television or other broadcast media.

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