About 76 million people were born between the years of 1946 and 1964. They are referred to as baby boomers, and they're changing marketing in a big way.
Traditionally, advertising has been aimed at people between the ages of 18 and 49. People 50 and older were literally called "the undesirables," according to a 2005 Businessweek article titled "Love Those Boomers." But with most baby boomers 50 or older, attitudes are changing.
"The boomers are particularly attractive because they tend to have free time. They're less likely to be raising young children and their careers are established and stable," says Paolo Timoni, CEO of Piaggio U.S.A., parent company of Vespa Motor Scooters in the same Businessweek article. When Vespa began marketing in the United States in 2000 after a 15-year absence, they thought the people buying their scooters would be people in their mid 20's, looking for a cheap way to get around. What they found, though, was that their best customers were baby boomers, who remembered Vespas from when they were young.
With boomers living and working longer, they will have even more money to spend. According to Matt Thornhill, president of the Boomer Project, a Richmond Virginia consulting firm, "If you're going to expand your business, you will have to market to the aging boomer."
Businessweek. "Love Those Boomers." 24 October 2005. Online. http://www.businessweek.com/magazine/content/05_43/b3956201.htm.
Image: http://www.thebabyboomershealth.com/why-ba-boomers-need-long-term-care-insurance/
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