The U.S. Baby Boomer Market

Abstract

As the first wave of Baby Boomers turn age 60 in 2006, Packaged Facts presents an all-new report on the attitudes, preferences, and shopping behaviors of this cohort across a wide range of U.S. markets. Born between the years 1946 and 1964, this diverse, individualistic, and demanding generation accounts for nearly one in three Americans today, and their insistence on maintaining youthful, active lives far into the future provides a clear opportunity for marketers to "age up" their products and services to suit the evolving needs of these affluent architects of American Youth Culture.

Drawing on uniquely cross-tabulated Simmons Market Research Bureau survey data, along with government and private sector data sources, this report explores the many drivers of Boomer behavior, with a particular focus on the responsibilities occasioned by life stages such as parent- and grandparenthood, divorce and remarriage, empty nests, and retirement or semi-retirement. The report describes emerging Boomer-centric marketing campaigns and suggests how marketers can respond to and anticipate preferences and behaviors across industries. Extensive analysis of consumer survey data, in combination with wide-ranging qualitative market analysis, provide a comprehensive outlook on how this economically and socially powerful cohort will continue to redefine attitudes about everything from personal style to professional know-how far into the 21st century.

Following an overview of Boomer attitudes and spending trends are seven focus chapters covering the following market categories:

• Boomer Demographics, an evaluation of life stages, ethnicity, gender, education, employment, income, and how these traits contribute to Boomers' perceptions of youth and aging.
• Boomer Lifestyles, an exploration of the cyclical nature of the interests, career goals, relationships, and life choices of people age 40-59; their demand for products and services that facilitate their active, youthful approach to life.
• Boomer Diet and Health, an analysis of the growing awareness that diet, exercise, and self-monitoring of indicators such as cholesterol, blood pressure, and blood sugar are vital to maintain long-term health and keep insurance costs down; a look at wellness trends such as natural products, yoga, and alternative medicines.
• Boomers and Internet Technology, a review of the widespread impact of Internet and related technologies on virtually every aspect of boomers' daily lives, from personal relationships and employment to shopping, health, finances, and entertainment; relevance and attitudes toward text, voice, information applications, and emerging technologies.
• Boomers and Home Buying, a breakdown of traits and attitudes regarding home ownership and the home-buying and renovation options boomers consider as they plot out the next 30 years; condos, single-family homes, retirement communities, vacation and second homes, and timeshares are explored.
• Boomers, Transportation, and Travel, an examination of preferences regarding automobile purchase, including safety, style, and other features; a look at increasingly experience-oriented travel and vacations for individuals, couples, and families.
• Boomers and Personal Finance, a survey of the varied financial situations and categories among boomers, including retirement savings, investments, health and long-term care insurance, and awareness of and opinions about financial planning products and services.