Have you ever taken an online survey? Many of them begin with some sort of demographic screening (after they ask you if you work for a research or marketing company). I always shake my head when I get tossed out of the survey (“Thank you but we are looking for respondents with other characteristics”) after I give my age. Once one is over 50, we disappear to most marketers and that’s dumb.
My thinking is confirmed by a study from the Nielsen folks called “The Most Valuable Generation.” You can register and get the report here. Some of the findings about we Boomers, born between 1946 and 1964, are that we account for:
- 49% (nearly $230 billion) of total CPG sales
- 44% of the US population
- 70% of US disposable income
- 40% of customers paying for wireless service and
- 41% of those purchasing Apple computers.
There are a number of other findings about our brand loyalty (same as other age groups), online shopping (we do a LOT of it), social media use (a bit behind but catching up fast) and premium travel (we’re 80% of it). The reason I’m bringing all this up is the head-shaking number:
That’s the percentage of CPG advertising that’s geared to Boomers (who buy 50% of the product). It’s a huge opportunity for someone. As an article on the report summed up nicely:
Boomers are the most valuable generation in the history of marketing and they are too valuable to ignore, concludes the report. The numbers on Boomers are big, and they add up to something that is very compelling.
So if you’re a marketer, are you going to listen to the facts and take advantage of an opportunity or are you going to let some bad targeting habits continue? Your call!