Your Brand Is Missing The Largest Share Of Wallet And Their Vote
If you are a Presidential election Super Pac or committee, selling destinations, travel or autos, don’t miss the wealthiest U.S. demographic, Baby Boomers ages 48 – 66. They consume online media at a rate of 15 hours or more per week, longer than Gen X or Gen Y and spend more each month online.
Which demographic shows up to vote?
For the first time, people over 45 years of age represent a majority of the voting age population and they vote. In the 2008 election, the U.S. Census Bureau reports, 59% of all Baby Boomers voted, with older Boomers being more likely to vote than younger ones. Boomers over age 55 had a voter turnout of over 70%. (Source Gary Halbert)
Do you sell a travel destination or cruise trip?
As marketers, we know that consumers ages 45 + have the desire and resources to travel. Boomers grew up with travel options as highways expanded and plane technology improved. Boomer consumers purchase 80% of the luxury travel and over 60% have their passports. There’s pent-up demand for travel from years of recession and travel planning is beginning to rise.
Which demographic group influences or makes 80% of household decisions?
Baby Boomers. According to Marti Barletta, once the college bills are out of the way and children are on their own, the discretionary spending power of 50-plus women soars. They spend 2.5 times what the average person spends. Women are the primary buyers for computers, cars, banking, financial services and a lot of other big-ticket categories. Boomers purchase 62% of autos, now that’s a big ticket item!
Baby Boomers grew up with a love of cars, travel and involved with politics. The three categories of business is just a partial list of the spending power this demographic enjoys. It should be noted that Baby Boomers purchase 94% of CPG, purchase most health related and garden products and spend billions on grandchildren. Is your brand engaging them and getting your share of wallet?