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Baby Boomers

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Baby Boomers
Shuyang Wang, Team of Amanda, Brittany, Kesiri and Shuyang

Introduction
The population born between 1964 and 1964is commonly referred to as the Baby Boom generation (Census, 2006). Understanding the demographic characteristics of the Baby Boomers in the present day is very essential because Baby Boomers now comprise what is seen as one of the largest generations in U.S history. In 2013, Baby Boomers are ages 48 to 66. There are about 77 million boomers (the largest single generation surpassing children) in the U.S. today accounting for approximately $2 trillion in marketplace spending clout (Brandweek, March 2006.).

Demographic Information The population size of Baby Boomers in 2006 was 77,980,296, with a percentage of 50.3% male and 49.7% female. The population by region in 2006 in South, Midwest, West, and Northeast are respectively 28060126, 17569066, 17421670, and 14929434. California (8,992,331), Texas (5,665,790), and New York (5,110,668) ranked the top three in population size in 2006. The education level of Baby Boomers in 2006 is 12.5% of less than high school graduate, 29.8% high school graduate, 28.9 some college, and 28.8 bachelor’s degree or higher. The employment states of Baby Boomers in 2006 is 74.1%employed, 3.3% unemployed, 0.1%armed forces, and 22.4% not in labor force. The selected household income in 2006 shows that 91.8% of Baby Boomers are with earnings, 10.4% are with social security income, 11.3% are with retirement income, and 6.9% are with food stamps. So some highligets of Baby Boomers are reported race as White and ethnicity as non-Hispanic; They are currently married; They are reported having some college or higher, and currently employed and working (Census, 2006).

Lifestyle Information There is, perhaps, no more pervasive lifestyle in our contemporary marketplace than the desire among Baby Boomers (consumers born between 1946 and 1964) to lead active, healthy lives. The pursuit of healthy living is hardly unique to Boomers. Boomers are creating a way of living. While this aging population has a broad array of products from which they choose items that best fit their individual needs, they are also looking for more from companies than just the product or service they are buying. They want the experience of the purchase to satisfy mental, emotional and spiritual needs as well. In this sense, aging consumers are branding themselves by creating a way of living. They don't stick to precise industry product categories, but customize personalized regimes from many categories that make them feel empowered. There is an important historic component to this generation of aging consumers. The spirit is as strong today as yesterday for consumers in their 50s and 60s. This is the generation of movers and shakers that not only have witnessed all of the dramatic changes of the last 50 years but were the visionaries, innovators and inventors that gave us the personal computer, mobile communications and the World Wide Web, as well as brought social consciousness to the mainstream. Their "mindset" is informed by having matured in the context of social upheaval, consumerism and the rise of mass marketing and the expansion of communication forms like television, radio and telephones. While many are "set in their ways" they are also willing to try new things. Their willingness to do so is highly correlated to a specific health condition or "potential" behavior that they have monitored for long periods of time (years) through various media. At some critical juncture (doctor, confluence of headlines, friend's urging) they decide to take action and will, for example, try Tai Chi, go to the health club, cycle off of white flour, try herbal tea, etc. As all of this indicates, aging consumers do not transition rapidly into new behaviors or products, unless triggered by a serious condition (Hartbeat, 2006).

Consumption/Shopping Information
According to an online article, Pick Baby Boomers as Your Target Market for the Holidays, the Baby Boomer characteristics that should get your attention are: The leading consumers in 119 out of 123 CPG (Consumer Packaged Goods) categories; Spend more money on technology than Gen X or Gen Y – an average of $650 per month; 40% of all customers who pay for wireless service; Close to 100% own computers (and 41% own an Apple); 53% of them are on Facebook (driven in part by the arrival of grandchildren); 71% of Boomers go online every day; 66% send text messages (albeit not quite as many as their teenagers and grandchildren); Spend $7 billion online annually; Purchase 62.5% of new cars; Purchase 80% of luxury travel; Spend more than any other generation on health care and pharmaceuticals; One in 7 boomers care for a parent or family member; Spend a lot of their wealth on their grandchildren(Lewis, 2012). They want to make the most of these extra years, so they generally respond well to products and services that rejuvenate the mind and body (Mummert, 2004). Baby Boomers stormed social networks and blogs at a rate of 76.1 percent (37 million). That total accounts for 22.5 percent of the total audience to those sites. All social platforms are fully in play for Boomers. They’re almost equally engaged to the same level of younger generational groups on the major social media platforms. Facebook is dominant. The fastest growing Facebook segment is Baby Boomer women. But don’t neglect other social networks like Twitter, LinkedIn, and YouTube (Conlin, 2013).

Key Facts * The population born between 1964 and 1964is commonly referred to as the Baby Boom generation. * Baby Boomers now comprise what is seen as one of the largest generations in U.S history. * Demographic characteristics of the Baby Boomers in the present day are very essential for the U.S marketplace. * Aging consumers like baby boomers do not transition rapidly into new behaviors or products, unless triggered by a serious condition. * Baby Boomers want to make the most of these extra years, so they generally respond well to products and services that rejuvenate the mind and body. * Baby Boomers stormed social networks and blogs at a rate of 76.1 percent (37 million). That total accounts for 22.5 percent of the total audience to those sites. All social platforms are fully in play for Boomers.

References
Census (2006). Selected Characteristics of Baby Boomers 42 to 60 Years Old in 2006. Retrieved from http://www.census.gov/population/age/publications/files/2006babyboomers.pdf
Hartbeat (2006). Baby Boomer Lifestyle Traits & Trends
Retrieved from http://www.hartman-group.com/hartbeat/baby-boomer-lifestyle-traits-trends

Lewis, K (2012). Pick Baby Boomers as Your Target Market for the Holidays.
Retrieved from http://www.forbes.com/sites/kernlewis/2012/11/09/pick-baby-boomers-as-your-target-market-for-the-holidays/

Mummert, Hallie (2004). Market Focus: Baby Boomers. Retrieved from http://www.targetmarketingmag.com/article/market-focus-baby-boomers-36956/1

Brian, Conlin (2013). Marketing to Baby Boomers Online: Where and How to Reach Them Retrieved from http://www.vocus.com/blog/marketing-to-baby-boomers-online/

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