Ad Dollars Shift As Boomers Age
Nielsen says three key consumer groups are rapidly changing for marketers: baby boomers, moms and lower income consumers.
At Nielsen’s Consumer 360 Conference, the media and consumer research company said there are 100 million baby boomers -- a number which will climb by a third in 2030. Most are growing out of the key 18-49 demographic into the 50+ number.
Right now, they control $230 billion in sales -- about half of the total for the U.S. overall. In five years, they will control 70% of disposable income. But Beth Brady, Nielsen’s leader for marketing effectiveness, warns advertising dollars are being funneled elsewhere: "It's a missed opportunity."
For marketers, the role of moms and their kids are shifting. Moms with children under six watch less TV than the overall population. Moms are heavy media multi-taskers. On any given day, 67% of moms use the Internet while watching TV simultaneously. While away from the TV, more than 20% of moms with children are experimenting with mobile shopping.
Lower income consumers -- those that make under $30,000 a year -- are growing -- now around 30% of the country. Even against this background, Nielsen says: "They collectively represent a big part of the country’s total spend and are expected to grow in the future."
Nielsen says this cohort spends more time online that other income groups -- and more than nine hours a month on Facebook. Not only do they watch more TV than other consumers -- especially daytime TV -- they watch more online video than other consumers.