Baby Boomers: The Eternally Young
Key Chapter Highlights
- At nearly 80 million strong, Baby Boomers spend $2.3 trillion annually, outpacing 18–39-year-olds by 53%. Marketers shouldn’t fall into the youth obsession trap and forget this demographic.
- Baby Boomers are interested in and competent regarding technology—particularly products and services that serve their values and lifestyles, including video entertainment, mobile solutions, apps that leverage increased bandwidth to the home, and, increasingly, social media.
- Baby Boomers are redefining retirement and aging— working longer, staying more independent, and rejecting the notion that they should be “put out to pasture.”
- In 2006, caring for aging parents took an average of 21 hours per week, which had the total economic value of $350 billion—more than the United States spent on Medicare in 2005. Technologies that ease that burden have significant economic and social impact.