In the words of the immortal Basil Brush – Boom, Boom!
If you can remember the fox puppet then you might just be in the Baby Boomer generation. If you can’t then you are either too young to have see the show or possible too old to remember what you have seen. There are 80 million of them, born between 1946 and 1964 and they have great spending power.
Recent research by a team of Nielsen Neurofocus neuroscientists have come up with the conclusion that the older we become, the greater the neural decline. This means that to market to Baby Boomers you need to keep it simple as they will begin to find it more difficult to handle visual or verbal complexity
But there is a flip side. Baby Boomers have the ability to filter out negative messages and experience negative mentions less; at least that’s the theory.
According to the Nielsen unit “the amygdala, an emotional center in the brain, tends to be active in older people only when viewing positive images. Negative images are overlooked unless they’re “immediately relevant.”
Marketers have tended to ignore the group once they migrated from the 18-49 demographic.
Nielsen make the point that in five years, 50 percent of the U.S. population will be 50+ and they spend close to 50 percent of all Consumer Packaged Goods dollars. Why is it then that less than 5% of advertising is targeted at this group?
Nielsen in collaboration with BoomAgers gives additional insights into this marketing opportunity.
Consider these points from the report:
- Between now and 2030, the 18-49 segment is expected to grow +12%, while the 50+ segment will expand +34%.
- Boomers are more tech savvy and more marketing-friendly than believed
- Their business is winnable and losable
- They are a much more sensitive and dynamic cohort than most realize
- By 2050, there will be 161 million 50+ consumers, +63% compared to 2010
- Internet users over the age of 50 are driving the growth of social networking as their usage of the social net has nearly doubled to 42% in the past year
- 53% of Boomers are on Facebook
Boomers drive car sales and according to the Huffington Post. they also buy 73 percent of all hybrid cars. A monthly poll by
AARP media sales showed that 70 % of women 50 and older felt invisible to fashion and beauty companies.