Twelve Important Facts About Boomers For Marketers

1. Baby boomers make up, at approximately 78 million, the largest generational demographic in history.
2. They are a diverse group, spanning 18 years (1946-1964), representing a broad spectrum of cultural, economic, psychosocial and global influences.
3. Outnumbering the 50 million Gen Xers, over the next three years, the population of 45-64-year olds will have grown 30 percent, compared to the stagnant growth of 25- to 44-year olds.
4. Even beyond the sheer size of the demographic, boomer households spend an additional $10,000 more every year on consumer goods and services than their younger cohorts.
5. Boomers spend over $2.1 trillion/year of this unprecedented wealth on consumer goods and services including $79 billion on home improvements last year alone. They have $28 trillion in assets and control 67% of the nation’s wealth.
6. 80% of boomers use computers, one third of them going on-line every day. Direct catalog marketers estimate that 70% of on-line purchases are made by women, the majority in the boomer demographic.
7. They also represent 50% of car purchases and 74% of all prescription drug purchases.
8. With more established careers than younger generations, many boomers are at the peak of their earning potential. What's more, eight out of ten boomers say they don't plan to retire.
9. As a result, over the next seven years, there will be 80% growth of 60-69 year-olds, the leading edge of the boomer demographic, working full or part-time creating even more assets and wealth.
10. Not only will they continue to earn income, but within the next decade, many boomers will be managing inheritance windfalls.
11. 55% of boomers agree that they have no particular brand loyalties, with 68 percent of women over 35 saying that “the older they get, the more they enjoy trying new things.”
12. As they age, boomers will be vocal about their needs and are on the verge of flexing their combined social, economic, and political muscle. They are a force with which non-profits, institutions, the government, politicians and society as a whole will both want to and have to reckon.

In other words, baby boomers are not only the greatest market opportunity today, but a powerful force shaping the future of our society.