Are baby boomers your target market?
The fact is that every business owner is asking the same question: where are the customers? Chances are strong that even if those businesses have nothing in common, those companies are aiming at the same target -- Baby Boomers.
They are the generation with the highest education and disposable income in history. Here are some facts you need to know about this target market:
- The US population today is about 305 million.
- The oldest baby boomers (born 1946 - 1964) turned 60 in 2006 (63 today).
- In the year 2010, boomers will represent over 50% of the US population.
- Consider this: in 2000, 37% of the adult US population was 50 or older.
- From 2006-2016, the US adult population is estimated to grow by 23 million.
- 22 million of that growth will be over 50 (almost all the growth projected).
- Boomers will represent the center of the marketing universe for the next two decades.
- In 2001, the 50+ group held $29.5 trillion in net worth, or 69% of the US total, up from 56% in 1983 ("AARP State of 50+ in America Report", 2004).
- Find more current net worth broken out by age here.
- In addition, when you look at the income and saving pattern of older individuals, you can see how they will have more spending power and more discretionary income.
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Simply stated, if you are not reaching out to the baby boomer generation, you should. Watch for our next newsletter on Female Boomers, who represent 83% of spending.
For more information on reaching baby boomers in Greater LA, contact Tailor-Made Advertising in Torrance at (310) 791-6300 or email us at tmade.mkt@verizon.net.
For your free half-hour consultation, visit our website at www.adteamla.com.
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