Baby Boomers IBaby Boomers I1946-19541946-1954

Craig AndersonCraig AndersonScott BittingerScott BittingerShefali DesaiShefali DesaiAllison HeartyAllison Hearty

Education LevelEducation Level

Most educated Most educated generationgeneration

88% completed high 88% completed high school school

28.5% have a 28.5% have a Bachelor’s Degree or Bachelor’s Degree or moremore

Today many are Today many are returning to collegereturning to college

Core Core ValuesValues

1.1. Family and home life Family and home life is viewed as an is viewed as an achievementachievement

2.2. Long-term Long-term friendshipsfriendships

3.3. Getting away from it Getting away from it allall

4.4. Spiritual fitnessSpiritual fitness5.5. No midlife standstill No midlife standstill

Early LifestylesEarly Lifestyles Nuclear Family HouseholdNuclear Family Household

- Good Provider/ Nurturing Mother- Good Provider/ Nurturing Mother- Ozzie and Harriet- Ozzie and Harriet, , Father Knows BestFather Knows Best, ,

and and Leave it to BeaverLeave it to Beaver. . School lifeSchool life Entertainment Entertainment

- Barbie and GI Joe- Barbie and GI Joe- Yo-Yos- Yo-Yos- Bikinis were introduced- Bikinis were introduced

Jobs Jobs - Paper routes- Paper routes- Yard work- Yard work- Babysitting- Babysitting

Coming of AgeComing of Age Historical eventsHistorical events

o 1960- The Cold War 1960- The Cold War Russian Bomb ScareRussian Bomb Scare Kennedy is elected PresidentKennedy is elected President

o 1961-Space Race with the 1961-Space Race with the RussiansRussians

Alan Shepard flies into spaceAlan Shepard flies into space John Glenn flies to the moon John Glenn flies to the moon Neil Armstrong and Buzz Neil Armstrong and Buzz

Aldrin land on the moonAldrin land on the moon

Coming of AgeComing of Age 1963- Kennedy is assassinated1963- Kennedy is assassinated

Martin Luther King Jr’s “ I had Martin Luther King Jr’s “ I had a dream” speecha dream” speech

Women’s Liberation Movement- Women’s Liberation Movement- publications of the Feminine publications of the Feminine Mystique by Betty FriedmanMystique by Betty Friedman

1965-Vietnam War1965-Vietnam War 1965-Vietnam War1965-Vietnam War Anti War protest in 40 American Anti War protest in 40 American

CitiesCities ended 1973 , also military draftended 1973 , also military draft

endedended 1968- Martin Luther King Jr 1968- Martin Luther King Jr

assassinatedassassinated 1970-Kent State Riots1970-Kent State Riots

Coming of AgeComing of AgeSocial EventsSocial Events• 1960-Dance craze- the Twist1960-Dance craze- the Twist• Baseball is America’s Favorite Baseball is America’s Favorite

pastime pastime - Roger Maris breaks Babe Roger Maris breaks Babe

Ruths record with 61 home Ruths record with 61 home runsruns

• 1962-Johnny Carson hosts the 1962-Johnny Carson hosts the Tonight Show for 30 yearsTonight Show for 30 years

• 1964-US surgeon general declares 1964-US surgeon general declares smoking bad for healthsmoking bad for health

• 1964Beatles invasion1964Beatles invasion- Breaks up in 1970Breaks up in 1970

- 1967-The first super bowl, 1967-The first super bowl, - Green Bay Packers won over Green Bay Packers won over

Kansas cityKansas city- 1969-Four day concert at Woodstock1969-Four day concert at Woodstock

Spending & SavingSpending & SavingAverage Boomer Household Spends Average Boomer Household Spends

$46,160$46,160

Compared to Average Household:Compared to Average Household: 11% 11% lessless on toys, pets and play equipment on toys, pets and play equipment 50% 50% lessless on children’s clothing on children’s clothing 50% 50% moremore on House ware items on House ware items Apparel: Men 11% Apparel: Men 11% moremore; Women 13% ; Women 13%

moremore Insurance: 20% Insurance: 20% moremore Vacations: 23% Vacations: 23% moremore Tuition: 47% Tuition: 47% moremore

Motivation & Motivation & GoalsGoals FamilyFamily FriendshipFriendship ““Forever Young”Forever Young” Hard Work Hard Work MoneyMoney PowerPower

Money & Wealth Money & Wealth PowerPower Luxury Luxury Owning a HomeOwning a Home Early RetirementEarly Retirement

ProductsProducts As Baby Boomers age, they As Baby Boomers age, they

look for products that:look for products that:- Keeps them looking young, - Keeps them looking young,

and feeling youngand feeling young- Helps them stay physically fit- Helps them stay physically fit- Have value at a reasonable - Have value at a reasonable

costcost The label and designs on this The label and designs on this

products need to be:products need to be:- Easy to read- Easy to read- Accessible to all people - Accessible to all people

regardless of ageregardless of age- Easy to grip, and open- Easy to grip, and open

Advertising ResponseAdvertising Response

Never make this Never make this group feel or group feel or appear to be old! appear to be old! o Even with humor, one Even with humor, one

must be cautious.must be cautious.

Mike and Linda Mike and Linda LeaveneLeavene

Success and FailureSuccess and Failure Some industries have Some industries have

established strong relationships established strong relationships with the 50 something boomerswith the 50 something boomerso Insurance, Investments, Retirement, Insurance, Investments, Retirement,

Pharmaceuticals, and Natural HealthPharmaceuticals, and Natural Healtho AIG, Centrum, ViagraAIG, Centrum, Viagra

Other industries have failed to Other industries have failed to connect with this booming connect with this booming marketmarketo Entertainment, Label Textiles, and Entertainment, Label Textiles, and

RestaurantsRestaurants

Points of InterestPoints of Interest Did you know…every 7.5 seconds someone in Did you know…every 7.5 seconds someone in

America turns 50?America turns 50? The 50+ age group:The 50+ age group:

o Is the fastest growing population segment.Is the fastest growing population segment.o Account for over 40% of total consumer demand.Account for over 40% of total consumer demand.o Average $24,000 in annual disposable income.Average $24,000 in annual disposable income.o Own 79% of America's financial assets.Own 79% of America's financial assets.o Own 62% of all large Wall Street investment accounts.Own 62% of all large Wall Street investment accounts.o Visit malls more often than any other age group.Visit malls more often than any other age group.o Dine out 4 to 5 times per week.Dine out 4 to 5 times per week.o 78% make online purchases.78% make online purchases.o Over 70% are willing to try new brands.Over 70% are willing to try new brands.o Spend over $29 Billion yearly on grandchildren's gifts.Spend over $29 Billion yearly on grandchildren's gifts.o Women over 50 spend $21 Billion on clothes annually.Women over 50 spend $21 Billion on clothes annually.

Wrap UpWrap Up Marketers need to target Baby Boomers Marketers need to target Baby Boomers

becausebecause- They are highly educated- They are highly educated- They have experienced ups and downs of social and - They have experienced ups and downs of social and

historical eventshistorical events- They have great deal of purchasing power- They have great deal of purchasing power- They enjoy spending money frivolously- They enjoy spending money frivolously- They will splurge more on luxury items such as a 5 - They will splurge more on luxury items such as a 5

star hotel or restaurantstar hotel or restaurant- Approaching or recently turned 50- Approaching or recently turned 50- They value and maintain relationships- They value and maintain relationships

o Could be a loyal customerCould be a loyal customer They do not represent a homogeneous segmentThey do not represent a homogeneous segment

Questions Questions

Thank You!Thank You!