• by Aaron Baar , July 8, 2009

While trying to manage the recession, marketers -- particularly those with health and wellness, technology or financial products -- may want to look at targeting male Baby Boomers.

"Even though men may amount to a minimum of purchases for a product or service, they should not be forgotten," says Steve French, executive vice president and managing partner at the Natural Marketing Institute, which recently conducted a survey of more than 3,000 adults about the economy. "If you're never targeting them, you're never going to get the purchase."

According to the NMI survey, 40% of men over the age of 50 said they are not feeling increased stress because of the economy, compared with 30% of women in the same age group. Additionally, Baby Boomer men are taking on more family shopping roles and are more likely to buy brand name products. The survey found that about one-third of Baby Boomer males are the main household grocery shopper, up from 20% ten years ago. While in the store, about half (46%) of these men are willing to purchase brand names over store brands, compared with about 26% of women.

"They are more connected to a national brand, than with the wider selections that women may be aware of," French tells Marketing Daily. "Men may also associate a house brand back to the days when it was an inferior product."

Perhaps not surprisingly, one of the main categories where male Baby Boomers are shopping is health and wellness products. According to the survey, 61% of Boomer males would like to live past 100 (compared with 53% of Boomer women) and 32% of Boomer men agreed with the statement, "Taking prescription drugs is the primary way to promote healthy aging." (Only 23% of Boomer women felt the same way.)

Another opportunity may come in the financial sector. According to the survey, 70% of Boomer men are making self-directed financial decisions, compared with 46% of women. Boomer men are also more likely to spend money and make impulse purchases than Boomer women, according to NMI.

"Men sometimes bury their heads in the sand a little bit," French says. "Women are more pragmatic."