Take a look at the grandparent market. The nature of grandparenting is evolving. For the first time in human history, there are three distinct generations of grandparents in the United States. This continuum of the grandparenting lifestage is based on dimensions such as the age of grandchildren, affluence, and household structure. In this economy, grandparents are contributing to their children and grandchildren's lifestyles in unprecedented ways.
We hear a lot about Boomers as members of the "sandwich generation," caught between raising their (sometimes adult) children and taking care of their elderly parents. The Pew Research Center notes that about one in every eight Americans aged 40 to 60 is currently caring for a parent, physically or financially. And with the over-65 population set to double in the next two decades, the sandwich generation's burdens are likely to increase exponentially as well.
We know Baby Boomers are ages 48-66 and hold 70% of the U.S. wealth. They are online, they have life-changing needs and passions and money to spend. They grew up with technology and are embracing time on the Internet. They are spending 39.5 hours per month online. Because I am getting nice feedback on the quiz formats, here is another one for you.
In a recent survey, we asked Baby Boomer women about their jobs (or lack thereof) and attitudes about work. After decades of thought-leaders predicting that Boomers would reinvent the notion of work as they aged, the working life of Boomers is, in fact, looking a lot like ... the working life of everyone else.
Reluctant to be defined by anyone but themselves, Baby Boomers continue to create new norms for what it means to be age 50+. At the same time, medical science and healthier living have made it possible for Boomers to expect to live active, healthy, productive lives well into their 80s, 90s and beyond. As a result, rather than marking the beginning of the end, Boomers are recasting age 50 as a midpoint to an adult life that can easily last 30 to 40 more years.
I'm often asked "What are the 'best' (most effective methods/strategies) to target specific groups of Boomer and older customers? Here are some thoughts for consideration. They by no means cover all ways to connect with these markets.