Table of Contents
Executive Summary
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- Who are Baby Boomers?
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- Figure 1: Births in US (millions), Mintel generational cutoffs, 1910-2009
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- Figure 2: Share of US population by generation, 2016
- Why are Boomers an important target audience?
- The issues
- Baby Boomers behind on retirement saving
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- Figure 3: Attitudes toward the future, by generation, February 2016
- Older generations feel underrepresented in advertising
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- Figure 4: Attitudes toward advertising, index to all, February 2016
- Baby Boomers demonstrate a relatively conservative outlook
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- Figure 5: Views on society – All issues, by generation, February 2016
- The opportunities
- All generations shopping online
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- Figure 6: Willingness to purchase online, February 2016
- Free shipping and product reviews are impactful
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- Figure 7: Attitudes toward shopping, index to all, February 2016
- Alternative services can provide value for Boomers
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- Figure 8: Baby Boomer behaviors, February 2016
- What it means
The Market – What You Need to Know
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- Millennials now outnumber Baby Boomer generation
- Baby Boomers are likely to have married, but many now live alone
- Boomers paved the way for educated women
- Some working, some retired, and others somewhere in between
The Baby Boomer Generation by the Numbers
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- Baby Boomers surpassed by Millennials in population share
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- Figure 9: Share of US population by generation, 2016
- Racial diversity was impactful for Baby Boomers
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- Figure 10: Generations, by race and Hispanic origin, 2016
- Marriage was the expectation for Boomers
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- Figure 11: Marital status, by age, 2015
- Figure 12: Median age at first marriage, by gender, 1940-2015
- Aging consumers face the prospect of living alone
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- Figure 13: Single-person households as a percentage of total households by generation, 2015
- Baby Boomer women the least likely group to hold college degrees
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- Figure 14: Level of education completed, by generation, March 2016
- Figure 15: Percentage of Americans who hold bachelor’s degrees, by age and gender, March 2016
- Baby Boomers split between full-time work and full-time retirement
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- Figure 16: Baby Boomer employment status, February 2016
Key Trends – What You Need to Know
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- Advertisers aim for true-to-life portrayals
- Boomers flock to Facebook
- Family vacations get funded by grandparents
- As they age, Americans focus on financial and physical health
- Boomers want to actively exercise the mind
What’s Working
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- Advertisers hit on Baby Boomer values of home, health, family
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- Figure 17: “Reflection of the Real You” – Wayfair Commercial, March 2016
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- Figure 18: KNOW You’re Prepared for the Unexpected, March 2015
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- Figure 19: 2016 Subaru Outback | Subaru Commercial | Memory Lane, February 2016
- Figure 20: Wedding | Made to Move | Osteo bi-Flex, January 2016
- Reframing “pampering” as “wellness”
- Facebook recognizes growth by attracting Boomers
- AARP fights “youth obsessed” ad culture
- Less-affluent Millennials lean on supportive Boomer grandparents
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- Figure 21: Vacation companions, November 2015
What’s Not Working
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- Opportunities exist for easy, affordable, tech support
- Boomers still working toward retirement savings goals
- Maintaining a healthy weight becomes a challenge with age
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- Figure 22: Percent of people aged 20 or older who are overweight or obese, 2001-02 to 2013-15
What’s Next
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- Low-impact fitness meets the needs of an active, aging population
- Employees take over when Boomers sell their businesses
- Baby Boomers’ anti-aging focus is the brain
- Boomers plan “bucket list” travel
The Consumer – What You Need to Know
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- Baby Boomers self-identify as “responsible” and “realistic”
- Boomers aren’t an entirely conservative cohort
- Retirement saving is a continued challenge
- Boomers mind their aging brain
- Boomers embrace, and try to understand, new tech
- One in four Boomers want to follow the sun
- Online shopping is the norm for all generations
- Advertisers have work to do in understanding the Boomer target
How Baby Boomers Perceive Themselves and Their Generation
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- Baby Boomers value “responsibility” above all else
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- Figure 23: Baby Boomers’ perceptions of themselves, February 2016
- Boomers’ perceptions of others align with self-perceptions
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- Figure 24: How Baby Boomers perceive themselves and others in their generation, select attributes, February 2016
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- Figure 25: How Baby Boomers think others perceive their generation, February 2016
- Methodology
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- Figure 26: Baby Boomers’ perceptions of themselves, their generation, and how they think others perceive their generation – Correspondence analysis, February 2016
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- Figure 27: Baby Boomers’ generational perceptions, February 2016
- A wider gap between Boomer men and women
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- Figure 28: Baby Boomers’ self-perceptions, by gender, February 2016
- Black Americans share characteristics across generational groups
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- Figure 29: Baby Boomers’ self-perceptions, by race, February 2016
How Baby Boomers View Society
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- Baby Boomers are conservative – but not entirely
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- Figure 30: Views on society – all issues, by generation, February 2016
- Boomers the least likely to support non-traditional family dynamics
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- Figure 31: Baby Boomers’ views on society – Family composition, February 2016
Attitudes toward the Future
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- Only half of Baby Boomers are on track with retirement saving
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- Figure 32: Attitudes toward the future, by generation, February 2016
- Baby Boomers focus on keeping the mind young
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- Figure 33: Attitudes toward aging, by generation, February 2016
- Boomers only slightly behind Gen X in tech understanding
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- Figure 34: Attitudes toward technology, Baby Boomers and Generation X, February 2016
Perceptions of Retirement Communities
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- A quarter of Boomers plan to relocate to a warmer climate
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- Figure 35: Attitudes toward moving in retirement, by key demographics, February 2016
- Warm climate and mobility top the list for retirement preferences
- Future residents prioritize wellness features of retirement communities
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- Figure 36: Perceptions of retirement communities, February 2016
- Women have high hopes and expectations
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- Figure 37: Attitudes toward retirement communities, by gender, February 2016
- Income influences preference on few community amenities
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- Figure 38: Attitudes toward retirement communities, by household income groups, February 2016
- Retirement preferences reflect current lifestyles
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- Figure 39: Attitudes toward retirement communities, by area, February 2016
Baby Boomer Behaviors
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- Alternative services have yet to reach Boomers
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- Figure 40: Baby Boomer behaviors, index to all, February 2016
- Image trend may still become popular with the Boomer crowd
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- Figure 41: Behaviors – Communicating through imagery, by generation, February 2016
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- Figure 42: Mobile device ownership, by generation, February 2016
- Men may be more likely to handle finances
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- Figure 43: Baby Boomer behaviors, by gender, February 2016
- Digital disconnection is a consideration for all generations
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- Figure 44: Attitudes toward personal connections, index to all, February 2016
Online Purchases
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- Baby Boomers familiar with online shopping
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- Figure 45: Online purchases, February 2016
- Boomers shop online, but not at the same pace as younger consumers
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- Figure 46: Willingness to purchase online, index to all February 2016
- Boomers aren’t immune to the sway of online reviews
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- Figure 47: Attitudes toward shopping, index to all, February 2016
- Boomer women prove-out their shopping preference online
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- Figure 48: Willingness to purchase online – Select items, by gender, February 2016
- High-income Boomers searching for goods online
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- Figure 49: Willingness to purchase online – Select items, by household income, February 2016
- Male Boomers more aligned with traditional gender roles
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- Figure 50: Attitudes toward shopping, by gender, February 2016
Baby Boomers’ Perceptions of Quality
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- Boomers appreciate craftsmanship above all
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- Figure 51: Perceptions of quality, index to all, February 2016
- Subtle differences in how racial groups perceive quality
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- Figure 52: Perceptions of quality – Select items, by race, February 2016
- Luxury goods may attract Boomers with less disposable income
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- Figure 53: Perceptions of quality, by household income, February 2016
Baby Boomer Marketing Preferences
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- Baby Boomers have ideas for you, advertisers
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- Figure 54: Attitudes toward advertising, index to all, February 2016
- Boomers of all kinds find little representation in advertising
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- Figure 55: Marketers understand my age group, by key demographics and generations, February 2016
- Investment in the Baby Boomer audience warranted
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- Figure 56: Marketing preferences, index to all, February 2016
- Women more open to a variety of advertising
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- Figure 57: Marketing preferences – Select items, by gender, February 2016
- Black Baby Boomers show a preference for diversity and energy
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- Figure 58: Marketing preferences – Select items, by race, February 2016
- Married Boomers less likely to look for diversity in advertising
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- Figure 59: Marketing preferences – Select items, by marital status, February 2016
How Lottery Winnings Would Be Spent
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- Vacation is Boomers’ ultimate reward
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- Figure 60: How lottery winnings would be spent, February 2016
- Big-ticket items more appealing to traditional Boomers
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- Figure 61: How lottery winnings would be spent, by generation, February 2016
- Women looking to invest in the home
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- Figure 62: How lottery winnings would be spent, by gender, February 2016
- Lottery winners of all income levels share the same goals
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- Figure 63: How lottery winnings would be spent, by household income, February 2016
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Consumer qualitative research
- Generations
Appendix – Market
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- Figure 64: Population by generation, 2011-21
- Figure 65: Generations, by race and Hispanic origin, 2016
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- Figure 66: Marital status, by age, 2015
- Figure 67: Median age at first marriage, by gender, 2005-15
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- Figure 68: Median household income, by age of householder, 2014
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