Contact: The Kids Are OK
"Boomerangers," as they're called, move home to save money, or because they're out of work and are seeking direction and affection, says Elina Furman, author of "Boomerang Nation: How to Survive Living With Your Parents the Second Time Around," set for release in May.
A former Boomeranger herself, she thinks marketers are missing the boat when it comes to the demographic. "The best way to reach them is to not make light of the situation," Furman notes. "It is important to approach them as responsible consumers and raise their self-esteem since theirs is low, and because they feel that they're judged by their peers."
According to Furman's data, Boomerangers have significant discretionary income and spending power, perhaps because only 28 percent of Baby Boomers who expect their children to move back in with them plan to make them pay rent. While Boomerangers may save rent money, they don't necessarily gain in the self-esteem department. To make up for their living status, Furman says they start buying things like cars, luxury goods, and vacations. JC