Mature Marketplace*



“Older Americans,” those over 50, are the single most important consumer group in the country. Americans over 50 comprise nearly 40% of the population and control more than 50% of all discretionary purchases. In addition, the 50+ segment of the population is expected to expand 34% between 2012 and 2030 while the 18-49 segment of the population has a mere 12% growth expectancy. This group’s preferences for travel and gifts, plus healthcare requirements, will shape the consumer landscape in the coming years as their numbers, free time and personal wealth steadily increase.

 

Spending Power

  • By 2017, nearly half of the U.S. population will be 50+ years old and will control more than 70% of the country’s disposable income.
  • 55-64 year olds outspend the average consumer in nearly every category, including: food away from home, household furnishings, entertainment, personal care, and gifts.
  • Baby Boomers spend close to 50% of all consumer package goods dollars. 
  • This group spends $230 billion for consumer packaged goods each year.
  • They are a source of big spending growth across several major categories; 92% spend a significant amount on food while 73% spend a large portion on housewares.
  • Baby Boomers take an average of 3.7 trips per year and spend $157 billion on vacations every year. 
  • They account for upwards of 80% of all premium travel. 
  • Baby Boomers account for 46% of all restaurant visits (25 billion per year). 
  • They spend close to $90 billion a year on cars. 
  • This group accounts for 40% of customers paying for wireless services and 41% of those purchasing Apple computers.

 

Lifestyle Marketing

The Baby Boomer audience can be hard to reach. Long hours at work and family obligations make each Baby Boomer minute extremely valuable. This trend promises to continue as Boomers work longer and stay active. The mall, that one stop the Boomer is willing to make, is the best way to reach this important market.


Every morning around the country seniors go “mall-walking.” Malls are opened before shopping hours for seniors to exercise. Some marketers have tapped into this niche and mall-walkers are often treated to seminars and health screenings during the mall-walking hours. Mall-walking groups foster a community feeling in this often isolated demographic.

 

*Refer to pdf for source information