One lucrative market segment for you to create value, is baby boomers - the approximately 176 million consumers born between 1946 and 1978. Though baby boomers represent a wealthy target, possessing $ 6.2 trillion in annual spending power controlling three-quarters of world wealth, viewers of over 50 refers to as "undesirables", because advertisers are primarily interested in 18 to 49 years olds. Yet with many baby boomers into their 60s, and even the last wave turning 40, demand for products to turn back the hands of time has exploded. Half of all baby boomers were depressed that they were no longer young, and nearly one in five were actively resisting the aging process. As they for the fountain of youth, sales of hair replacement and hair coloring aids, health club memberships, home gym equipment, skin-lightening creams, nutritional supplements, and organic foods have all soared. Further more, contrary to conventional marketing wisdom that the brand preferences of consumers over 50 are fixed, baby boomers are willing to change brands in line with the total population. The boomer market will grow in importance in the coming years: the proportion of adult in 65 will be 20% in 2020.
Comments
Post a Comment