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Baby Boomers Not Slowing Down Baby boomers, as they age, they drive forth the interests of a growing mature market. But business and industry must grasp, first of all, the ways in which this demographic is young as ever. The eldest segment of the baby boomer target market begins turning 60 next year, but these mature people represent the "new" old. Already, 50 is being called the new 40, 70 the new 60, and so on. While the days of not trusting anyone over 30 passed long ago, a youthful spirit still infuses the prevailing baby boomer mindset. Looking towards retirement, baby boomers expect to continue leading active, exciting lives. With greater longevity, 50 and 60 are actually not as old as they once were, relative to the average life span. And members of the baby boomer target market, positioned at the height of their careers and earning power, have never been more relevant to business and industry. The problem for many companies is hitting the right note in approaching the baby boomer target market. Most messages miss their mark, either by treating boomers as the same carefree, rock-n-roll youngsters they were thirty years ago, or continuing to present mature market products as the domain of stereotypical "senior citizens." In fact, baby boomers remain notably young-at-heart, but their tastes have grown quite sophisticated and their judgments are savvy. Marketing and advertisements that resonate with a baby boomer target market emphasize quality and value above all. Later, when all boomers have hit the 50 mark and some enter their eighth decade, healthcare and retirement matters will become more pressing concerns. The American Association of Retired Persons predicts that by 2010, approximately 54 million boomers will be between age 50 and 64, bringing the total 50-plus population of the United States above 90 million. In the no-longer-distant future, even inveterate hipsters in the boomer target market will face difficult aging-related issues. But even then, many analysts predict the baby boomer target market will alter little of its essence. This pivotal generation will remain individualistic, wary of convention and fond of self-indulgence. With power in numbers, baby boomers continue making their own rules and dicing up traditions. Back To Mature Market News → Go To The GenerationTarget.com Mature Market Bookstore → |
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