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A Booming Marketplace: 6 Truths About Baby Boomer Travel
An undeniable fact is that 78 million baby boomers are an enormous bulge in the U.S. population. Understand the truths about how this age group travels.
Baby boomers today are between 35 and 53 years of age. They are in their peak earning years, and the oldest of them have reached the prime age for travel. Boomers, however, are significantly different travel consumers than their parents, and experts expect them to maintain those differences as they age. Travel industry organizations that fail to identify and heed the boomers' unique qualities could soon find themselves in serious trouble.
Group travel seems especially vulnerableIndustry experts, Travel Marketing Decisions interviewed experts to gather information into this insight into this enormous and potentially profitable segment. Below are some of the truths that have been discerned about baby boomers and their marketing implications for the industry.
- Boomers consider travel a necessity, not a luxury. This is good news for the industry on two counts. First, the sheer number of boomers traveling will cause business to grow. Second, since travel is a necessity, boomers engage in it no matter how scarce their time or money.
- Boomers have traveled more than their predecessors. While their parents first visited Europe when they retired, boomers criss-crossed the Continent as studentsAs experienced travelers, boomers seek out more exotic destinations or more in-depth ways of experiencing familiar places
- Boomers see themselves as forever young. "Adult teenagers" is the way Phil Goodman, co-author of the Boomer Marketing Revolution, described boomers.This cult of youth also affects boomers' choice of travel suppliers and companions. They don't identify with people older than they are, they don't want to be like their parents. That means mixing the two generations in the same tour group probably won't work. Early bird specials and senior discounts hold no appeal for boomers because, according to Day, because they won't think of themselves as seniors until they are in their seventies.
- Boomers want to have fun. It's not surprising that adult teenagers put a premium on having a good time. Although fun, like beauty, is in the eye of the beholder, Day said companionship, stimulation and the cultural/social experience make travel fun for boomers. She added, "Part of the enjoyment of the experience is knowing it's unique -that's part of the rush."Day said tour operators and destinations can increase the fun factor by encouraging boomers to bring friends with them. A group isn't a negative when it's a group of their own friends, she said.Day also pointed out, "Fun that is too difficult to obtain isn't fun at all." This again underscores the importance of making the travel purchase quick, easy and convenient.Finally, boomers desire to have fun and make money is driving some career changers into the travel industry. According to Marc Mancini, president of Marc Mancini Seminars and Consulting, these entrepreneurs are carving out niches that will have a major impact on the business.
- Boomers demand immediate gratification. Unlike their Depression-era parents, boomers grew up in times of plenty. Easy gratification bred a desire for still more and quicker rewards. As a result, boomers don't wait to take the trips they want. If they don't have the money, they just use plastic.
These free-spending ways, however, could spell trouble for the travel industry, if boomers must work longer because they didn't save for retirement. The hot stock market of recent years may have changed the outlook for many, but Mancini thinks a major market correction could keep boomers from enjoying their paper profits.Boomers' instant-gratification lifestyle means they don't book travel as far in advance as their predecessors. But when they are ready to book, they want to do it NOW.Finally, it's important to remember boomers invented the question, "Are we there yet?" They have little patience for long, uninterrupted stretches of road time. Tour operators should plan shorter hauls or more frequent stops or provide entertainment such as personal video screens or Internet access.- Boomers are not passive. They want a measure of control in designing their travel experience, and, once on the road, they want to choose their activities. "If you tell them they're going to do A, B and C, they might want to do E or F," noted editor Malott. The challenge for travel marketers is to make it clear their product offers plenty of options.
Boomers also want more interactivity in the travel experience. According to John Stachnik, president of Mayflower Tours, "They don't want to hear about panning for gold, they want to do it." Stachnik called it sightdoing vs. sightseeing.If they keep these 6 truths about boomers in mind, marketers will be more successful in pursuing this large, but complex market segment.
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