Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Consumer survey data
- Advertising videos
- Abbreviations and terms
- Abbreviations
- Terms
Executive Summary
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- Financial snapshot: Affluent earners but poor savers
- Why Boomers buy
- The responsibilities of taking care of their children, grandchildren, and parents
- Insights and opportunities
- Advertising snapshot
- Attitudes towards health and wellness
- Attitudes towards personal finance
- Attitudes towards travel
- Attitudes towards apparel
- Attitudes towards the internet
Insights and Opportunities
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- Boomers ignored by marketers
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- Figure 1: U.S. household characteristics, by age, November 2008
- Easy and elegant electronics
- Fashion, Boomer style
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- Figure 3: Baby Boomer attitudes toward retail clothing stores—Older and Younger Boomers, July 2009
- Food, Boomer style
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- Figure 4: Baby Boomer attitudes toward food—Older and Younger Boomers, February 2008-March 2009
- Midlife health
Inspire Insights
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- Agelessness
- What it’s about?
- I won’t grow up
- Implications
- Nostalgia
- What it’s about?
- Rockin’ into the night
- Implications
Decision-making Drivers
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- Key points
- Quality and value more important to Boomers
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- Figure 5: Baby Boomer attitudes toward their own financial security—Older and Younger Boomers, July 2009
- Maintaining health
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- Figure 6: Baby Boomer attitudes toward health and medicine—Older and Younger Boomers, February 2008-March 2009
- Branding, bargains, and made in America
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- Figure 7: Baby Boomer attitudes about shopping and shopping behavior—Older and Younger Boomers, February 2008-March 2009
- Raising kids, pampering grandkids, and taking care of parents
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- Figure 8: Households with children, by age and race/Hispanic origin of householder, 2007
- From me to we
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- Figure 9: Baby Boomer general attitudes—Older and Younger Boomers, February 2008-March 2009
Brands and Advertising Landscape
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- Overview
- Leveraging Inspire Insights
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- Figure 10: Advertising expenditures targeting Baby Boomers, 2007 and 2008
- Brand analysis: Geico
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- Figure 11: Brand analysis of Geico
- Figure 12: Geico television ad, 2009
- Brand analysis: Viagra
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- Figure 13: Brand analysis of Viagra
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- Figure 14: Viagra television ad, 2009
- Brand analysis: Centrum
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- Figure 15: Brand analysis of Centrum Silver
- Figure 16: Centrum Silver television ad, 2009
- Figure 17: Centrum Silver television ad, 2009
Segment Size and Demographics
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- Key points
- Boomers make up 26% of the U.S. population in 2009
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- Figure 18: Population, by age, 2004-14
- Majority of Boomers are white
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- Figure 19: Generations, by Hispanic origin, 2009
- Figure 20: Generations, by race, 2009
- Younger Boomers have highest household incomes
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- Figure 21: Average household income of Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- About half of Baby Boomers attended or graduated from college
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- Figure 22: Educational attainment of Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Most Boomers (65%) are married and homeowners
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- Figure 23: Baby Boomers’ marital status—Older and Younger Boomers, February 2008-March 2009
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- Figure 24: Baby Boomers’ home ownership—Older and Younger Boomers, February 2008-March 2009
- Almost 80% of Older Boomers live in households of two or less; 89% with no children
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- Figure 25: Baby Boomers’ household size and presence of children—Older and Younger Boomers, February 2008-March 2009
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- Figure 26: Family members living with Baby Boomers—Older and Younger Boomers, July 2009
Ethics and Time Management
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- Key points
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- Figure 27: Baby Boomer general attitudes—Older and Younger Boomers, February 2008-March 2009
- Time is valuable
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- Figure 28: Baby Boomer general attitudes—Older and Younger Boomers, February 2008-March 2009
- Figure 29: Baby Boomer general attitudes—Older and Younger Boomers, February 2008-March 2009
- Some 41% of Boomers planning for or in retirement
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- Figure 30: Baby Boomer attitudes—Older and Younger Boomers, July 2009
- Key points
- Like all adults in 2009, Boomers are grocery shopping for value at Walmart
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- Figure 32: Top department/discount department stores for supermarkets/food stores among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Older Boomers spend less than average on weekly groceries
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- Figure 33: Grocery shopping dollars spent av week among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Best Buy leads electronics stores for Boomer purchases, but Walmart is popular too
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- Figure 34: Home electronics store selection among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Figure 35: Top department/discount department stores for appliances/electronics/computers, among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Home Depot number one home improvement store among Boomers; Lowe’s close number two
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- Figure 36: Top home improvement stores among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Walgreens leads drug store chains among Boomers and all adults
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- Figure 37: Top drug stores for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Little loyalty for convenience stores
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- Figure 38: Convenience store selection among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
Online Attitudes and Behavior
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- Key points
- Boomers use internet more for information, less for entertainment
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- Figure 39: Baby Boomer attitudes toward the internet—Older and Younger Boomers, February 2008-March 2009
- Nearly 60% of Boomers like to learn computer tech
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- Figure 40: Baby Boomer attitudes computers—Older and Younger Boomers, February 2008-March 2009
- Some 62% of Baby Boomers have made an internet purchase
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- Figure 41: Incidence of Baby Boomer internet purchases—Older and Younger Boomers, February 2008-March 2009
- Figure 42: Source of offer for Baby Boomer internet purchase—Older and Younger Boomers, February 2008-March 2009
- More Older Boomers purchase prescription drugs
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- Figure 43: Items ordered on the internet by Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Younger Boomers spend the most on internet purchases
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- Figure 44: Dollars spent on internet purchases by Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Older Boomers more likely to pay for internet orders with credit cards
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- Figure 45: Payment methods for internet purchases by Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Older Boomer fear of identity theft could reduce credit card use on internet
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- Figure 46: Boomer attitudes toward money and financial security—Older and Younger Boomers, February 2008-March 2009
Health and Medicine
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- Health and wellness are important to Older Boomers
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- Figure 47: Baby Boomer attitudes toward health and medicine—Older and Younger Boomers, February 2008-March 2009
- Older Boomers gather health information from their doctors primarily but also research treatments on their own
- Older Boomers rely on doctors more than younger adults
- Boomers are willing to challenge a doctor's recommendation
- Sick Younger Boomers are more likely to go to work
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- Figure 49: Baby Boomer attitudes toward health and medicine—Older and Younger Boomers, February 2008-March 2009
Personal Finance
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- Figure 50: Baby Boomer attitudes toward money and financial security—Older and Younger Boomers, February 2008-March 2009
- Only 8% of Baby Boomers feel very secure about current financial situation
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- Figure 51: Baby Boomer attitudes toward their own financial security—Older and Younger Boomers, July 2009
- Most Baby Boomers are really feeling the recession
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- Figure 52: Baby Boomer attitudes toward their lifestyle—Older and Younger Boomers, July 2009
- More than half of Boomers have little disposable income and need to save
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- Figure 53: Baby Boomer attitudes toward spending and saving—Older and Younger Boomers, July 2009
- Older Boomers take advantage of opportunities to save and earn
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- Figure 54: Baby Boomer attitudes toward banking and investments—Older and Younger Boomers, February 2008-March 2009
- Older Boomers’ credit card use is higher than Younger Boomers’
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- Figure 55: Baby Boomer payment methods with credit and debit cards—Older and Younger Boomers, February 2008-March 2009
- Investment ownership higher among Baby Boomers than all adults
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- Figure 56: Baby Boomer investment ownership—Older and Younger Boomers, February 2008-March 2009
- Figure 57: Types of investments owned by Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Almost 90% of Older Boomers carry health/hospital/life insurance
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- Figure 58: Baby Boomer insurance coverage—Older and Younger Boomers, February 2008-March 2009
- Figure 59: Type of insurance Baby Boomers own—Older and Younger Boomers, February 2008-March 2009
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- Figure 60: Percentage change in types of investments Baby Boomers own—Older and Younger Boomers, 2005-09
- Some 61% of Older Boomers say listening to music is top leisure activity
- Gardening is a leisure activity participated in by 42% of Older Boomers
- Family-style activities attract Younger Boomers; less so Older Boomers
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- Figure 61: Baby Boomer leisure activities—Older and Younger Boomers, February 2008-March 2009
- Older Boomers have more discretionary time than Younger Boomers
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- Figure 62: Annual averages of hours per day spent on primary activities by Baby Boomers—Older and Younger Boomers, June 2009
- Some 43% of Older Boomers exercise regularly; 46% of Younger Boomers
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- Figure 63: Baby Boomers And exercise—Older and Younger Boomers, February 2008-March 2009
- Figure 64: Baby Boomer frequency of exercise—Older and Younger Boomers, February 2008-March 2009
- Reading/purchasing books is a popular leisure activity among Boomers
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- Figure 65: Types of books Baby Boomers purchase—Older and Younger Boomers, February 2008-March 2009
- Traditional bookstores leading outlets as the main source for book purchases
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- Figure 66: Where Baby Boomers purchase books—Older and Younger Boomers, February 2008-March 2009
- Roughly two thirds of Boomers and all adults attend live entertainment
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- Figure 67: Types of live entertainment Baby Boomers attend—Older and Younger Boomers, February 2008-March 2009
- Younger Boomers/all adults play strenuous sports, unlike Older Boomers
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- Figure 68: Top sports Baby Boomers play or participate in—Older and Younger Boomers, February 2008-March 2009
- Summer (and winter) Olympics capture the interest of more Boomers
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- Figure 69: Leisure activities of interest to Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Reach Younger Boomers through radio; Older Boomers via TV/newspapers
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- Figure 70: Baby Boomer attitudes toward the media—Older and Younger Boomers, February 2008-March 2009
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Travel Patterns
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- Key points
- Older Boomers skew to more frequent domestic travel vs. younger adults
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- Figure 71: Number of domestic round trips for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
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- Figure 72: Number of overnight stays among domestic travelers for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- More Older Boomer domestic travelers enroll in frequent guest programs
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- Figure 73: Enrolment in frequent guest programs by domestic travelers—Older and Younger Boomers, February 2008-March 2009
- Figure 74: Dollars spent on domestic vacation/personal trips—Older and Younger Boomers, February 2008-March 2009
- Adults and Boomers prefer cars over planes for domestic personal travel
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- Figure 75: Mode of transportation for domestic vacation/personal trips for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Foreign vacation travel almost doubled among Boomers between 2006 and 2008
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- Figure 76: Year of last foreign trip for vacation/personal for Baby Boomers—Older and Younger Boomers, 2006-08
- Baby Boomers spend an average of $2,600 on foreign travel for vacation
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- Figure 77: Dollars spent for last foreign travel for vacation/personal for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- For foreign vacation destinations, Older Boomers play it safe
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- Figure 78: Top airline destinations for foreign vacation/personal travel for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Hotels and motels most popular for Boomer foreign vacation stay
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- Figure 79: Overnight accommodations for foreign vacation/personal travel for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- Boomers prefer U.S.-based airlines for foreign personal travel
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- Figure 80: Top airlines for foreign vacation/personal travel for Baby Boomers—Older and Younger Boomers, February 2008-March 2009
Apparel
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- Key points
- Boomers are not slaves to fashion
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- Figure 81: Baby Boomers’ attitudes toward apparel in last 12 months—Older and Younger Boomers, February 2008-March 2009
- A third or fewer Boomers dissatisfied with retailers/clothing about style, size, or price
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- Figure 82: Baby Boomers attitudes toward retail clothing stores—Older and Younger Boomers, July 2009
- Walmart is the top retailer for apparel
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- Figure 83: Top department/discount department stores for clothing and accessories among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
- T-shirts among top clothing items purchased by both males and females
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- Figure 84: Female apparel and accessories Baby Boomers purchase—Older and Younger Boomers, February 2008-March 2009
- The classic/traditional jeans brands of the 1960s and 1970s are still favorites of Boomers
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- Figure 85: Brands of adult jeans Baby Boomers purchase—Older and Younger Boomers, February 2008-March 2009
- Figure 86: Brands of male jeans Baby Boomers purchase—Older and Younger Boomers, February 2008-March 2009
Food and Dining Out
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- Older Boomers claim to eat more healthfully than all adults in general
- Coupons only motivate about a third of Older Boomers to try new foods
- Less than a quarter of Older Boomers enjoy trying new drinks
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- Figure 87: Baby Boomer attitudes toward food—Older and Younger Boomers, February 2008-March 2009
- Boomers and all adults dine at family restaurants/steak houses an average of four times per month
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- Figure 88: Baby Boomer dining frequency at family restaurants/steak houses—Older and Younger Boomers, February 2008-March 2009
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- Figure 89: Top 20 Baby Boomer family restaurants/steak houses—Older and Younger Boomers, February 2008-March 2009
- The majority of all Boomers and adults eat at fast food restaurants 14 or more times per month
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- Figure 90: Baby Boomer dining frequency at fast food/drive-in restaurants—Older and Younger Boomers, February 2008-March 2009
- Lunch is the most common fast food meal occasion
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- Figure 91: Baby Boomer use of fast food/drive-in restaurants, by meal occasion—Older and Younger Boomers, February 2008-March 2009
- McDonald’s is number one with Older Boomers, but less fond of Domino’s, Pizza Hut and Taco Bell than younger adults
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- Figure 92: Top 22 fast food/drive-in restaurants of Baby Boomers—Older and Younger Boomers, February 2008-March 2009
Cluster Analysis
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- Contenteds
- Actives
- The Concerned
- Cluster characteristics
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- Figure 93: Baby Boomer clusters, July 2009
- Figure 94: Boomer attitudes toward financial security, by Baby Boomer clusters, July 2009
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- Figure 95: Baby Boomer attitudes toward their lifestyle, by Baby Boomer clusters, July 2009
- Figure 96: Baby Boomer attitudes toward spending and saving, by Baby Boomer clusters, July 2009
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- Figure 97: Baby Boomer attitudes toward retail clothing stores, by Baby Boomer clusters, July 2009
- Figure 98: Baby Boomer attitudes toward spending and saving, by Baby Boomer clusters, July 2009
- Cluster demographics
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- Figure 99: Baby Boomer clusters, by gender, July 2009
- Figure 100: Baby Boomer clusters, by age, July 2009
- Figure 101: Baby Boomer clusters, by income, July 2009
- Cluster methodology
Additional Consumer Tables
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- General attitudes
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- Figure 102: Baby Boomer general attitudes—Older and Younger Boomers, February 2008-March 2009
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- Figure 103: Baby Boomer general attitudes—Older and Younger Boomers, February 2008-March 2009
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- Figure 104: Baby Boomer lifestyle attitudes—Older and Younger Boomers, February 2008-March 2009
- Apparel
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- Figure 106: Top department/discount department stores for children's clothing among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
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- Figure 107: Apparel and accessory purchases among Baby Boomers, by gender—Older and Younger Boomers, February 2008-March 2009
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- Figure 108: Adult jean purchases among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
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- Figure 109: Brands of female jeans Baby Boomers purchase—Older and Younger Boomers, February 2008-March 2009
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- Figure 110: Top department/discount department stores for footwear among Baby Boomers—Older and Younger Boomers, February 2008-March 2009
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- Figure 111: Shares of annual aggregate expenditures on apparel, by age, November 2008
Appendix: Trade Associations
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