866-997-4948(US-Canada Toll Free)

Marketing to Baby Boomers - US - July 2016

Published By :

Mintel

Published Date : Jul 2016

Category :

Baby Products

No. of Pages : N/A

Baby Boomers are aged 52-70 and are making the transition from parents to grandparents and from full-time employment to full-time retirement. Although Baby Boomers have entered the second half of their lives, they don’t necessarily feel “old” and want to continue to have exciting, active, and fulfilling lives.

The majority of Baby Boomers have a positive outlook on life and are optimistic about the future, despite the fact that some face financial uncertainty as they age out of the work force. A quarter of this generation have aspirations to live in a retirement community in the future, and a similar share plan to relocate to a warmer climate. However, given their financial situations, many may find that they have to sell their homes and move to areas with lower costs of living to finance their “second act.”

Table of Content

Overview

What you need to know
Definition

Executive Summary

Who are Baby Boomers?
Figure 1: Births in US (millions), Mintel generational cutoffs, 1910-2009
Figure 2: Share of US population by generation, 2016 
Why are Boomers an important target audience?
The issues
Baby Boomers behind on retirement saving
Figure 3: Attitudes toward the future, by generation, February 2016
Older generations feel underrepresented in advertising
Figure 4: Attitudes toward advertising, index to all, February 2016
Baby Boomers demonstrate a relatively conservative outlook
Figure 5: Views on society – All issues, by generation, February 2016
The opportunities
All generations shopping online
Figure 6: Willingness to purchase online, February 2016
Free shipping and product reviews are impactful
Figure 7: Attitudes toward shopping, index to all, February 2016
Alternative services can provide value for Boomers
Figure 8: Baby Boomer behaviors, February 2016
What it means

The Market – What You Need to Know

Millennials now outnumber Baby Boomer generation
Baby Boomers are likely to have married, but many now live alone
Boomers paved the way for educated women
Some working, some retired, and others somewhere in between

The Baby Boomer Generation by the Numbers

Baby Boomers surpassed by Millennials in population share
Figure 9: Share of US population by generation, 2016 
Racial diversity was impactful for Baby Boomers
Figure 10: Generations, by race and Hispanic origin, 2016
Marriage was the expectation for Boomers
Figure 11: Marital status, by age, 2015
Figure 12: Median age at first marriage, by gender, 1940-2015
Aging consumers face the prospect of living alone
Figure 13: Single-person households as a percentage of total households by generation, 2015
Baby Boomer women the least likely group to hold college degrees
Figure 14: Level of education completed, by generation, March 2016
Figure 15: Percentage of Americans who hold bachelor’s degrees, by age and gender, March 2016
Baby Boomers split between full-time work and full-time retirement
Figure 16: Baby Boomer employment status, February 2016

Key Trends – What You Need to Know

Advertisers aim for true-to-life portrayals
Boomers flock to Facebook
Family vacations get funded by grandparents
As they age, Americans focus on financial and physical health
Boomers want to actively exercise the mind

What’s Working

Advertisers hit on Baby Boomer values of home, health, family
Figure 17: “Reflection of the Real You” – Wayfair Commercial, March 2016
Figure 18: KNOW You’re Prepared for the Unexpected, March 2015
Figure 19: 2016 Subaru Outback | Subaru Commercial | Memory Lane, February 2016
Figure 20: Wedding | Made to Move | Osteo bi-Flex, January 2016
Reframing “pampering” as “wellness”
Facebook recognizes growth by attracting Boomers
AARP fights “youth obsessed” ad culture
Less-affluent Millennials lean on supportive Boomer grandparents
Figure 21: Vacation companions, November 2015

What’s Not Working

Opportunities exist for easy, affordable, tech support
Boomers still working toward retirement savings goals
Maintaining a healthy weight becomes a challenge with age
Figure 22: Percent of people aged 20 or older who are overweight or obese, 2001-02 to 2013-15

What’s Next

Low-impact fitness meets the needs of an active, aging population
Employees take over when Boomers sell their businesses
Baby Boomers’ anti-aging focus is the brain
Boomers plan “bucket list” travel

The Consumer – What You Need to Know

Baby Boomers self-identify as “responsible” and “realistic”
Boomers aren’t an entirely conservative cohort
Retirement saving is a continued challenge
Boomers mind their aging brain
Boomers embrace, and try to understand, new tech
One in four Boomers want to follow the sun
Online shopping is the norm for all generations
Advertisers have work to do in understanding the Boomer target

How Baby Boomers Perceive Themselves and Their Generation

Baby Boomers value “responsibility” above all else
Figure 23: Baby Boomers’ perceptions of themselves, February 2016
Boomers’ perceptions of others align with self-perceptions
Figure 24: How Baby Boomers perceive themselves and others in their generation, select attributes, February 2016
Figure 25: How Baby Boomers think others perceive their generation, February 2016
Methodology
Figure 26: Baby Boomers’ perceptions of themselves, their generation, and how they think others perceive their generation – Correspondence analysis, February 2016
Figure 27: Baby Boomers’ generational perceptions, February 2016
A wider gap between Boomer men and women
Figure 28: Baby Boomers’ self-perceptions, by gender, February 2016
Black Americans share characteristics across generational groups
Figure 29: Baby Boomers’ self-perceptions, by race, February 2016

How Baby Boomers View Society

Baby Boomers are conservative – but not entirely
Figure 30: Views on society – all issues, by generation, February 2016
Boomers the least likely to support non-traditional family dynamics
Figure 31: Baby Boomers’ views on society – Family composition, February 2016

Attitudes toward the Future

Only half of Baby Boomers are on track with retirement saving
Figure 32: Attitudes toward the future, by generation, February 2016
Baby Boomers focus on keeping the mind young
Figure 33: Attitudes toward aging, by generation, February 2016
Boomers only slightly behind Gen X in tech understanding
Figure 34: Attitudes toward technology, Baby Boomers and Generation X, February 2016

Perceptions of Retirement Communities

A quarter of Boomers plan to relocate to a warmer climate
Figure 35: Attitudes toward moving in retirement, by key demographics, February 2016
Warm climate and mobility top the list for retirement preferences
Future residents prioritize wellness features of retirement communities
Figure 36: Perceptions of retirement communities, February 2016
Women have high hopes and expectations
Figure 37: Attitudes toward retirement communities, by gender, February 2016
Income influences preference on few community amenities
Figure 38: Attitudes toward retirement communities, by household income groups, February 2016
Retirement preferences reflect current lifestyles
Figure 39: Attitudes toward retirement communities, by area, February 2016

Baby Boomer Behaviors

Alternative services have yet to reach Boomers
Figure 40: Baby Boomer behaviors, index to all, February 2016
Image trend may still become popular with the Boomer crowd
Figure 41: Behaviors – Communicating through imagery, by generation, February 2016
Figure 42: Mobile device ownership, by generation, February 2016
Men may be more likely to handle finances
Figure 43: Baby Boomer behaviors, by gender, February 2016
Digital disconnection is a consideration for all generations
Figure 44: Attitudes toward personal connections, index to all, February 2016

Online Purchases

Baby Boomers familiar with online shopping
Figure 45: Online purchases, February 2016
Boomers shop online, but not at the same pace as younger consumers
Figure 46: Willingness to purchase online, index to all February 2016
Boomers aren’t immune to the sway of online reviews
Figure 47: Attitudes toward shopping, index to all, February 2016
Boomer women prove-out their shopping preference online
Figure 48: Willingness to purchase online – Select items, by gender, February 2016
High-income Boomers searching for goods online
Figure 49: Willingness to purchase online – Select items, by household income, February 2016
Male Boomers more aligned with traditional gender roles
Figure 50: Attitudes toward shopping, by gender, February 2016

Baby Boomers’ Perceptions of Quality

Boomers appreciate craftsmanship above all
Figure 51: Perceptions of quality, index to all, February 2016
Subtle differences in how racial groups perceive quality
Figure 52: Perceptions of quality – Select items, by race, February 2016
Luxury goods may attract Boomers with less disposable income
Figure 53: Perceptions of quality, by household income, February 2016

Baby Boomer Marketing Preferences

Baby Boomers have ideas for you, advertisers
Figure 54: Attitudes toward advertising, index to all, February 2016
Boomers of all kinds find little representation in advertising
Figure 55: Marketers understand my age group, by key demographics and generations, February 2016
Investment in the Baby Boomer audience warranted
Figure 56: Marketing preferences, index to all, February 2016
Women more open to a variety of advertising
Figure 57: Marketing preferences – Select items, by gender, February 2016
Black Baby Boomers show a preference for diversity and energy
Figure 58: Marketing preferences – Select items, by race, February 2016
Married Boomers less likely to look for diversity in advertising
Figure 59: Marketing preferences – Select items, by marital status, February 2016

How Lottery Winnings Would Be Spent

Vacation is Boomers’ ultimate reward
Figure 60: How lottery winnings would be spent, February 2016
Big-ticket items more appealing to traditional Boomers
Figure 61: How lottery winnings would be spent, by generation, February 2016
Women looking to invest in the home
Figure 62: How lottery winnings would be spent, by gender, February 2016
Lottery winners of all income levels share the same goals
Figure 63: How lottery winnings would be spent, by household income, February 2016

Appendix – Data Sources and Abbreviations

Data sources
Consumer survey data
Consumer qualitative research
Generations

Appendix – Market

Figure 64: Population by generation, 2011-21
Figure 65: Generations, by race and Hispanic origin, 2016
Figure 66: Marital status, by age, 2015
Figure 67: Median age at first marriage, by gender, 2005-15
Figure 68: Median household income, by age of householder, 2014

List of Table

NA

Make an enquiry before buying this Report

Please fill the enquiry form below.

  • Full Name *
  • Your Email *
  • Job Title
  • Company *
  • Phone No. * (Pls. Affix Country Code)
  • Message
  • Security Code *

Upcoming Reports

  • Sugar and Gum Confectionery - UK - January 2015

    Rising dental health concerns can create an opportunity for chewing gum brands. Currently much of the marketing for sugar-free gums centres around fresh breath, however, the dental health benefits, particularly for children, could warrant more focus. Though explored internationally, tooth-friendly gums tailored for children remain rare in the UK market....