Maybe you know someone who’s going through a midlife crisis; your dad just bought a corvette, your next door neighbor bought a boat, and your friend’s divorced mom bought herself a right hand diamond ring. Baby boomers across the country, born 1945-1964, are at the ripe age to experience this strange phenomenon. That would in 2012 put them between 48 and 66. This is a group that has with time reshaped America – more divorces, less retirement, and they’re still spending. Let’s take a closer look at the boomer demographic.


 

The boom started right after WWII when families began to settle down, and lasted until the invention of the birth control pill in 1964. This generation grew up listening to The Beatles, Led Zeppelin, The Rolling Stones, and Johnny Mathis. They loved Gilligan’s Island, Happy Days, and Love Boat. Their formative years were during the 1960’s and early 70’s when so many ideas and views were shifting. Civil rights, women’s rights, free love, rock music and drug experimentation all played a part in shaping their youth. The boomers are a very well educated group; “about 88.8 percent completed high school, and 28.5 percent hold a bachelor’s degree or higher”. This in turn has an impact on their interest in voting. Boomers seem to swing conservative; “in the Election of 2000 and the Election of 2004, seniors thought highly of President Bush” (Baby boom generation). This group is now hard working, responsible and pays their taxes. There are many issues that boomers see as important, retirement being one of them. Many have lost value in investments due to the economic crisis and are therefore delaying retirement or deciding not to retire at all. Home ownership, health and fitness, and social security are some other important issues to boomers. Some influential boomers of today are Barack Obama, Condoleezza Rice, Bono, George W. Bush, Cher, Steve Jobs and Oprah Winfrey.


 

Today in the United States, they are the largest economic group. Currently there are 77.3 million boomers still living and reaching the retirement or empty nest stage. This can lead to more spending on discretionary items or a mid-life crisis caused by stressors. With extra time on their hands, boomers are beginning to travel, go to the theater, and eat out more. The boomers continue to influence fashion, with Michelle Obama being a great example. She is a fashion forward boomer who likes to mix high end and low end. They also enjoy shopping from home, with HSN being a favorite. Retailers would be wise to market to this group: “the average consumer age 45 to 54 spent about $1,900 on clothing in 2010, and the consumer age 55 to 64 spent about $1,500” (Connor, 2011, p.1).

 

Don’t discount the boomer group; they’re still here, just older and wiser. If you want to target them, they watch television and read the newspaper more than any other age group. They’re also not brand loyal. So grasp this important market segment while you can, especially if you’re selling Happy Days DVD sets.