Thursday, Mar. 14 2013 5:09PM
Marketing to baby boomers
By James McKenna
They changed Americas’ business at each stage of their development; Diaper Service, Barbie Dolls, Rolling Stone Magazine, Relaxed-Fit Jeans and SUV’s were all created in response to the needs, wants, desires and aspirations of the boomer generation.
Now, once again the smart money is on how the boomers are and will continue to impact the travel industry. It is important to keep in mind that the boomers invented the question… “Are we there yet?” Back then they had little patience for what seemed like long, uninterrupted road trips ( no iPhones, Kindles or iPod), where they were stuck in the back seat forced to go along for the ride. …under threat of the mantra of the day…”don’t make me stop this car.”
And Boomers Continue to Explode Onto the Scene:
1.) The 50 plus age group is growing 18 times faster than the under 50 age group.
2.) The 50 plus age group will increase by more than 50 percent over the next 10 years.
3.) The 25-34 yr age group will increase 2.9 percent over the next decade.
4.) The 35-44 yr age group will decrease 9 percent in the next 10 years.
5.) The 65+ age group will increase 15.1 percent during the same 10-year period.
Source: Brookings Institute
The boomer generation still represents the largest percentage of both leisure as well and business travelers. In fact, 4-out-of-5 have taken at least one vacation in the past year. One-in-three plan to take a “lovey-dovey” 30th anniversary trip this year. They’re also the driving force for multi-generational vacation trips, seeing it as an opportunity to reconnect with their adult children and grand children. They don’t go along to baby-sit the grandkids. They’re active and because they are more financially secure, wind up paying for the trips.
How They See Themselves:
1.) 85 percent (self-describe) the status of their current health as either good, very good or excellent.
2.) 84 percent believe they’ll stay active and vigorous well into their 80’s.
3.) 60 percent exercise at least one-to-three times per week.
4.) They base their age on how they think and feel---Not on their birth date.
5.) 71 percent feel that most advertising today doesn’t fit their lifestyle.
The Baby Boomer generation represents the greatest opportunity for those who figure out how to talk to them correctly…and the greatest threat for those who don’t.