Question 1: Why are Baby Boomers such a lucrative market?
The Baby Boomer generation is massively different than its younger counterparts. They have a diversity of products available to them. The main reason why Baby Boomers are such a lucrative market is because that generation has a $3.4 trillion in annual buying power. Many of the products like cars and technical products that were thought to purchased more by millennials are purchased by more by baby boomers or more older generations. Also, research has shown more than 20 percent of the U.S. population is estimated to be 65 years or older by 2030, so with an annual buying power of $3.4 trillion per year, it would be in a company’s best interest for business to market towards that demographical