Baby Boomers Have All the Money Now, and Forever
Baby Boomers, "The Generation Where Each Individual Takes Personal Credit for Bob Dylan," are now entering retirement age. They have a lot of time on their hands, and all of America's disposable income. Now, the slavish catering to their every whim really begins.
Bloomberg reports that you, the consumer age 50 or older, have a significantly higher median net worth than either your parents or grandparents' generation did—in fact, Baby Boomers represent $3 trillion worth of buying power in America. They are monied, self-important, and extremely up to date:
In 2017, approaching half of the U.S. adult population will be 50 and older and they will control a full 70 percent of the disposable income, according to data tracker Nielsen. By 2050, there will be 161 million 50-plus consumers, a 63 percent increase over 2010...
Boomers watch 174 hours of television a month, 63 percent more than Millennials, the 18-to-34 year-old generation. More than half of them are on Facebook.
The takeaway of this story, though, is that nobody really knows the best way to sell to Baby Boomers.
May we suggest: by placing ads on TV, or on Facebook?
