It’s time to dispel some Baby Boomer Myths:
Baby Boomers are making retirement obsolete. Baby Boomers are very savvy about advertising and are experimenting with new products. Baby Boomers are diverse segments that must be recognized and addressed differently.”
In an effort to dispel some common notions about the juggernaut explosion of baby boomers into their 60’s – let me recap the the key points discussed by AARP Services and Forecast in their article.
- Baby Boomers are all the same. Nothing could be further from the truth. They are not one buying group, they are diverse in ages, in buying habits and in socio-economic classes.
- Baby Boomers are self absorbed. They are often portrayed as the “Me Generation”, but they are caring for others according the article, 70 percent of baby boomers interviewed feel that have a responsibly to leave the world a better place and 57% say they are buying from companies that give bank to the community.
- Boomers are technologically challenged. Not True. Boomers grew up with technology and many were early adapters.
- Baby Boomers are winding down their lifestyle. Statistics show otherwise. A large segment is traveling and active in clubs and charities.
- Boomers are all wealthy. They are indeed the wealthiest generation in history, but less than 10 percent are affluent.
- Baby Boomers are brand loyal. Boomers are just as likely as younger folks to switch brands, according to experts. They are more content aware and internet shopping savy.
- They are influenced by mass advertising. The group is very diverse and some 66 percent say that advertising has gotten too crude. Twenty three percent say that advertising geared to their age group is offensive.
- Most Baby Boomers are empty-nesters and married. Only 25% fit this profile, the balance still have children under 18 in the home and one third are single.
- Baby Boomers are Downsizing their homes. Truth is only 6% are panning to downsize, according to the study.
- Baby Boomers are retiring early. Indeed over 70 percent of boomers plan on working past the age of 62.