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Black Baby Boomers - US - November 2009

Black Baby Boomers have long been ignored by marketing messages that are geared to the young in spite of the fact that they represent the largest African American generational segment and currently hold the greatest amount of wealth of all Black generations. They represent a growth market in many industries including financial services, healthcare, online marketers and others.

Black Boomers were born, and have grown up in, a more mainstream experience than any generation before them. At the same time, they continue to view the world and their experiences in it as Black people through the filter of their history.

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Table of contents

  1. Scope and Themes

    • What you need to know
      • Definition
        • Sources
          • Consumer survey data
            • Abbreviations and terms
              • Abbreviations
                • Terms
                • Executive Summary

                  • Snapshot of the market
                    • Background
                      • Demographics and lifestyles
                        • Black Boomers and money
                          • Purchasing behavior and brand preference
                            • Leisure activities
                              • Media and advertising
                                • Outlook
                                • Inspire Insights

                                    • Trend: Living Better, Longer
                                      • What's it about?
                                        • What we've seen
                                          • Specifics
                                            • Implications
                                              • Trend: Life After Debt
                                                • What's it about?
                                                  • What we've seen
                                                    • Specifics
                                                      • Implications
                                                      • Insights and Opportunities

                                                          • How to connect with Black Boomers
                                                            • Black Boomers and the media
                                                              • Cultural references and themes
                                                                • The musical connection
                                                                  • Celebration
                                                                    • Celebrity endorsements
                                                                      • Humor
                                                                        • Focus on value
                                                                          • Barriers to retirement
                                                                          • Baby Boomer Demographics

                                                                            • Key points
                                                                              • U.S. generations
                                                                                • Figure 1: U.S. generations, 2004 -14
                                                                              • Generations by race/Hispanic origin
                                                                                • Figure 2: Generations, by race, 2009
                                                                                • Figure 3: Distribution of races, by generation, 2009
                                                                                • Figure 4: Baby Boomers, by race and Hispanic origin, 2009
                                                                            • Profile of Black Boomers

                                                                              • Key points
                                                                                • Urban and rural households
                                                                                  • Figure 5: Share of total and black households in urban and rural areas, by age of householder, 2007
                                                                                • Black metros
                                                                                  • Figure 6: Metropolitan status of black households, 2001-07
                                                                                  • Figure 7: Top 10 metropolitan areas with the largest number of Black residents, 2006-08
                                                                                • Black Boomer population by region
                                                                                  • Figure 8: Black Boomer households, by age of householder and region of residence, 2008
                                                                                • Education
                                                                                  • Education levels vary between older and younger BBs
                                                                                    • Figure 9: Black Boomers, by age group and educational attainment, 2008
                                                                                  • Educational attainment by gender
                                                                                    • Figure 10: Black Boomers by age group, by gender and educational attainment, 2008
                                                                                  • Black Boomer families and households
                                                                                    • Household size
                                                                                      • Figure 11: Household size, by race and Hispanic origin of householder, 2009
                                                                                    • Marital status
                                                                                      • Figure 12: Marital status of Boomers, by race and Hispanic origin, 2009
                                                                                      • Figure 13: Marital status of Black Boomers, by gender and age, 2008
                                                                                    • Death rate is higher for Boomer men than women
                                                                                      • Figure 14: Death rates for all Boomers and Black Boomers, by age and gender, 2006
                                                                                    • Household type
                                                                                      • Figure 15: All households and Black Boomer households, by household type, 2009
                                                                                      • Figure 16: Black Boomer households, by household type and age of householder, 2009
                                                                                    • Households with children
                                                                                      • Figure 17: Households with any children*, by race and Hispanic origin of householder, 2008
                                                                                      • Figure 18: All households and black households with own children* under age 18, by age of householder, 2008
                                                                                    • Grandparents
                                                                                      • Figure 19: U.S. children living in their grandparents' home, by presence of parents, 2008
                                                                                      • Figure 20: Black children living in their grandparents' home, by presence of parents, 2008
                                                                                    • Incomes
                                                                                      • Household income of Black Baby Boomers
                                                                                        • Figure 21: Median household income for households headed by blacks, by age of householder, 2008
                                                                                        • Figure 22: Income distribution of black households, by age of householder, 2008
                                                                                      • Personal income
                                                                                        • Figure 23: Median personal income of Blacks, by age and gender, 2008
                                                                                      • Housing and homeownership
                                                                                        • Figure 24: Homeownership, by race /Hispanic origin of householder, 2005
                                                                                      • Living situations
                                                                                        • Figure 25: Type of residence occupied by Boomers, by race/Hispanic origin, August 2009
                                                                                      • By marital status
                                                                                        • Figure 26: Type of home, Black Boomers, by marital status, August 2009
                                                                                      • By region
                                                                                        • Figure 27: Type of home, Black Boomers, by region, August 2009
                                                                                    • Culture and Lifestyles

                                                                                        • Key points
                                                                                          • Pre-Civil Rights era vs. Post-Civil Rights era Black Boomers
                                                                                            • Older Black Boomers
                                                                                              • Younger Black Boomers
                                                                                                • Figure 28: Attitudes of Black Boomers, by age group, February 2008-March 2009
                                                                                              • General attitudes
                                                                                                • Figure 29: Outlook on life, Boomers, by race/Hispanic origin, February 2008-March 2009
                                                                                              • Black Baby Boomers
                                                                                                • Figure 30: Outlook on life, Black Boomers, by age group, February 2008-March 2009
                                                                                              • Social responsibility
                                                                                                • Figure 31: Attitudes towards social responsibility, Boomers vs Black Boomers, by age, February 2008-March 2009
                                                                                                • Figure 32: Attitudes towards social responsibility, younger Blacks vs. Black Boomers, February 2008-March 2009
                                                                                              • Career
                                                                                                • Figure 33: Attitudes towards work and career, Boomers vs Black Boomers, by age group, February 2008-March 2009
                                                                                              • Religion
                                                                                                • Figure 34: Attitudes towards religion, Black Boomers, by age group, February 2008-March 2009
                                                                                            • Black Boomers and Money

                                                                                              • Key points
                                                                                                • Impact on retirement savings
                                                                                                  • African Americans still believe in the American Dream
                                                                                                    • A different kind of retirement
                                                                                                      • Financial matters and financial security
                                                                                                        • Level of financial security among Black Boomers
                                                                                                          • Figure 35: Personal assessment of financial security among Black Boomers, by age group, August 2009
                                                                                                        • Attitudes towards income and spending
                                                                                                          • Figure 36: Personal assessment of income and spending patterns, Black Boomers, by age group, October 2006
                                                                                                          • Figure 37: Attitudes towards disposable income, saving and splurging, Black Boomers, by age group, August 2009
                                                                                                        • Banking products and services
                                                                                                          • Banking preferences of Black Boomers
                                                                                                            • Figure 38: Bank accounts and investments held, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Banking by household income
                                                                                                            • Figure 39: Banking and investments, Black Boomers, by household income, February 2008-March 2009
                                                                                                          • Banks and foreclosures
                                                                                                            • Figure 40: Leading bank brands used, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Credit and debit cards
                                                                                                            • Figure 41: Credit and debit card possession, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Credit card brand preference
                                                                                                            • Figure 42: Credit card brand preference, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Investment products and services
                                                                                                            • Figure 43: Mutual funds/brokerage accounts, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Types of investment accounts owned
                                                                                                            • Figure 44: Ownership of various financial products, Boomers vs Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Investment firm usage
                                                                                                            • Figure 45: Investment firms used, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Financial planning and investment decisions
                                                                                                            • Figure 46: Attitudes towards investments and financial planning, Black Boomers, by age group, February 2008-March 2009
                                                                                                          • Retirement planning
                                                                                                            • Entrepreneurship as a retirement strategy
                                                                                                              • Financial responsibility and knowledge
                                                                                                                • Figure 47: Attitudes towards financial responsibility, Boomers, by race/Hispanic origin, February 2008-March 2009
                                                                                                              • Barriers to retirement planning
                                                                                                              • Shopping Behavior of Black Boomers

                                                                                                                • Key points
                                                                                                                  • Retail shopping
                                                                                                                    • The shopping experience
                                                                                                                      • Figure 48: General attitudes towards shopping, Black Boomers, by age group, February 2008-March 2009
                                                                                                                    • Price sensitivity
                                                                                                                      • Figure 49: Attitudes towards shopping based on price, Boomers vs Black Boomers, by age group, February 2008-March 2009
                                                                                                                    • Online shopping by Black Boomers
                                                                                                                      • Figure 50: Online shopping purchases, Boomers vs Black Boomers, by age group, February 2008-March 2009
                                                                                                                      • Figure 51: Leading online shopping purchases, Black Boomers, by age group, February 2008-March 2009
                                                                                                                    • Retail affinity
                                                                                                                      • Department stores and discount retailers
                                                                                                                        • Figure 52: Top 10 department, discount, clothing and children’s stores shopped, by Boomers vs Black Boomers, by age group, February 2008-March 2009
                                                                                                                      • Home improvement stores
                                                                                                                        • Figure 53: Top five home improvement stores shopped, by Boomers vs Black Boomers, by age group, February 2008-March 2009
                                                                                                                      • Electronics stores
                                                                                                                        • Figure 54: Shop at electronics stores, Boomers, by race/Hispanic origin, February 2008-March 2009
                                                                                                                      • Electronic stores preferred by Black Boomers
                                                                                                                        • Figure 55: Top five electronics stores shopped, by Black Boomers, by age group, February 2008-March 2009
                                                                                                                      • Drug stores
                                                                                                                        • Figure 56: Top five drug stores shopped, by Boomers vs. Black Boomers, by age group, February 2008-March 2009
                                                                                                                      • Supermarkets and food stores
                                                                                                                        • Figure 57: Top 10 supermarkets and food stores shopped, by Black Boomers, by age group, February 2008-March 2009
                                                                                                                      • Apparel
                                                                                                                        • Figure 58: Attitudes towards apparel and style, Black Boomers, by age group, February 2008-March 2009
                                                                                                                    • Leisure Time

                                                                                                                      • Key points
                                                                                                                        • Leisure activities
                                                                                                                          • Figure 59: Participation in leisure activities over the last 12 months, Black Boomers, by age group, February 2008-March 2009
                                                                                                                        • Activities inside the home
                                                                                                                            • Figure 60: Attitudes towards home and family life, Black Boomers, by age group, February 2008-March 2009
                                                                                                                          • Entertaining at home
                                                                                                                            • Figure 61: Attitudes towards cooking, eating and drinking, Boomers vs. Black Boomers, by age group, February 2008-March 2009
                                                                                                                          • Book purchasing choices
                                                                                                                            • Figure 62: Source of books, Black Boomers, by age group, February 2008-March 2009
                                                                                                                          • Internet use
                                                                                                                              • Figure 63: Frequency and type of internet use, Black Boomers, by age group, August 2009
                                                                                                                            • Activities outside the home
                                                                                                                              • “Kairos” time
                                                                                                                                • Live entertainment
                                                                                                                                  • Figure 64: Live entertainment attendance in the last 12 months, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                • Dining out
                                                                                                                                  • Fast food
                                                                                                                                    • Attitudes towards dining out
                                                                                                                                      • Figure 65: Attitudes towards dining out, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                    • Fast food restaurant usage
                                                                                                                                      • Figure 66: Fast food restaurant usage, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                    • Fast food restaurants preferred by Black Boomers
                                                                                                                                      • Figure 67: Top ten fast food restaurants visited, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                    • Family restaurants and steakhouses
                                                                                                                                      • Family restaurants and steakhouses by usage
                                                                                                                                        • Figure 68: Family restaurant/steakhouse usage, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                      • Family restaurants by brand
                                                                                                                                        • Figure 69: Top ten family restaurants/steakhouses visited, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                      • Sports
                                                                                                                                        • Sports viewed
                                                                                                                                          • Figure 70: Top ten sports interests, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                        • Physical activities and exercise
                                                                                                                                          • Participation
                                                                                                                                            • Figure 71: Attitudes towards participation in physical exercise, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                          • Physical activity
                                                                                                                                            • Figure 72: Top ten physical activities/sports participated in, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                          • Travel
                                                                                                                                            • Extending an invitation
                                                                                                                                              • Figure 73: Domestic and foreign travel, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                            • Destination preferences
                                                                                                                                              • Domestic travel
                                                                                                                                                • Figure 74: Top five U.S. travel destination regions, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                              • Travel outside the U.S.
                                                                                                                                                • Figure 75: Top ten foreign travel destinations, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                              • Lodging and accommodations
                                                                                                                                                • Accommodation when traveling within the U.S.
                                                                                                                                                  • Figure 76: Recent domestic travel accommodation, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                • Hotel loyalty programs
                                                                                                                                                  • Figure 77: Participation in domestic hotel frequent guest program, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                • Accommodation when traveling outside the U.S.
                                                                                                                                                  • Figure 78: Recent overseas travel accommodation, Boomers vs. Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                • Choice of airlines
                                                                                                                                                  • Domestic travel
                                                                                                                                                    • Figure 79: Top ten domestic airlines used on last domestic trip, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                  • Travel outside the U.S.
                                                                                                                                                    • Figure 80: Top ten domestic airlines used on last trip outside the US, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                • Media and Advertising

                                                                                                                                                  • Key points
                                                                                                                                                    • Media outlets and advertising
                                                                                                                                                      • Attitudes of Baby Boomers
                                                                                                                                                        • Figure 81: General attitudes towards advertising, Boomers vs. Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                      • Television
                                                                                                                                                        • Figure 82: Attitudes towards television and advertising, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                      • Radio
                                                                                                                                                        • Figure 83: Attitudes towards radio and advertising, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                      • Magazines
                                                                                                                                                        • Figure 84: Attitudes towards magazines and advertisements, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                      • Newspapers
                                                                                                                                                        • Figure 85: Attitudes towards newspapers and advertisements, Black Boomers, by age group, February 2008-March 2009
                                                                                                                                                    • Advertisements to Black Boomers

                                                                                                                                                        • Print advertising
                                                                                                                                                          • Figure 86: Actonel print ad, 2009
                                                                                                                                                          • Figure 87: V-8 Juice print ad, 2009
                                                                                                                                                          • Figure 88: Nebraska Department of Economic Development print ad, 2009
                                                                                                                                                          • Figure 89: Ohio Department of Tourism, Girlfriend Weekend print ad, 2009
                                                                                                                                                          • Figure 90: Visitmo.com print ad, Stay Close, 2009
                                                                                                                                                        • Television advertising
                                                                                                                                                          • Figure 91: Colonial Penn Life Insurance TV ad, 2007
                                                                                                                                                          • Figure 92: The Home Depot TV ad, 2009
                                                                                                                                                          • Figure 93: Levitra TV ad, 2009
                                                                                                                                                          • Figure 94: Cadillac CTS TV ad, 2007
                                                                                                                                                          • Figure 95: CreditFairy.org TV ad, 2008
                                                                                                                                                      • Cluster Analysis

                                                                                                                                                          • Religiously secure
                                                                                                                                                            • Untroubled shoppers
                                                                                                                                                              • Just getting by
                                                                                                                                                                • Cluster Characteristics
                                                                                                                                                                  • Figure 96: Black boomer clusters, August 2009
                                                                                                                                                                  • Figure 97: Financial security, by black adult clusters, August 2009
                                                                                                                                                                  • Figure 98: Attitudes towards finances, by black boomer clusters, August 2009
                                                                                                                                                                  • Figure 99: Attitudes towards spending, by black boomer clusters, August 2009
                                                                                                                                                                  • Figure 100: Attitudes towards clothing retailers, by black boomer clusters, August 2009
                                                                                                                                                                  • Figure 101: Attitudes towards life, by black boomer clusters, August 2009
                                                                                                                                                                  • Figure 102: Frequency of attending religious services, by black boomer clusters, August 2009
                                                                                                                                                                  • Figure 103: Religious or philanthropic donations, by black boomer clusters, August 2009
                                                                                                                                                                  • Figure 104: Attitudes towards the media and role models, by black boomer clusters, August 2009
                                                                                                                                                                • Cluster Demographics
                                                                                                                                                                  • Figure 105: Black boomer clusters, by gender, August 2009
                                                                                                                                                                  • Figure 106: Black boomer clusters, by age, August 2009
                                                                                                                                                                  • Figure 107: Black boomer clusters, by household income, August 2009
                                                                                                                                                                  • Figure 108: Black boomer clusters, by marital status, August 2009
                                                                                                                                                                • Cluster methodology
                                                                                                                                                                • Appendix: Top 25 Ad Expenditures in Black Media

                                                                                                                                                                    • Figure 109: Comparison of the top 25 advertiser expenditures in Black-targeted Media, 1Q 2009 vs. 1Q 2008

                                                                                                                                                                Companies Covered

                                                                                                                                                                • Air France
                                                                                                                                                                • Albertsons Inc.
                                                                                                                                                                • AMR Corporation (American Airlines)
                                                                                                                                                                • AT&T Inc.
                                                                                                                                                                • Bank of America Corporation
                                                                                                                                                                • Berkshire Hathaway Inc
                                                                                                                                                                • British Airways Plc
                                                                                                                                                                • Burger King Corporation
                                                                                                                                                                • Campbell Soup Company
                                                                                                                                                                • Citibank
                                                                                                                                                                • Continental Airlines Inc.
                                                                                                                                                                • Fry's Electronics, Inc
                                                                                                                                                                • General Electric Company
                                                                                                                                                                • General Motors Corporation
                                                                                                                                                                • H&R Block, Inc.
                                                                                                                                                                • Home Depot (USA)
                                                                                                                                                                • HSBC USA Inc.
                                                                                                                                                                • J C Penney Company, Inc
                                                                                                                                                                • JetBlue Airways Corporation
                                                                                                                                                                • Johnson & Johnson
                                                                                                                                                                • JPMorgan Chase & Co
                                                                                                                                                                • KFC Corporation
                                                                                                                                                                • Kmart Corporation
                                                                                                                                                                • L'Oréal USA
                                                                                                                                                                • Macy's, Inc.
                                                                                                                                                                • Major League Baseball
                                                                                                                                                                • MasterCard Incorporated
                                                                                                                                                                • McDonald's Corporation
                                                                                                                                                                • Merrill Lynch & Co. Inc
                                                                                                                                                                • National Amusements Inc.
                                                                                                                                                                • National Basketball Association
                                                                                                                                                                • National Football League Inc.
                                                                                                                                                                • Netflix, Inc.
                                                                                                                                                                • Northwest Airlines Corporation
                                                                                                                                                                • PepsiCo Inc
                                                                                                                                                                • Pizza Hut Inc
                                                                                                                                                                • Procter & Gamble USA
                                                                                                                                                                • Safeway Inc
                                                                                                                                                                • SAM's Club
                                                                                                                                                                • Southwest Airlines Co.
                                                                                                                                                                • Starbucks Corporation
                                                                                                                                                                • Taco Bell Corp.
                                                                                                                                                                • Target Corporation
                                                                                                                                                                • The Kroger Co.
                                                                                                                                                                • The Progressive Corporation
                                                                                                                                                                • Time Warner Inc.
                                                                                                                                                                • Toyota Motor Corporation USA
                                                                                                                                                                • UAL Corporation (United Airlines)
                                                                                                                                                                • Unilever USA
                                                                                                                                                                • Verizon Communications Inc.
                                                                                                                                                                • Walgreen Co
                                                                                                                                                                • Walmart Stores (USA)
                                                                                                                                                                • Washington Mutual Inc
                                                                                                                                                                • Wells Fargo & Company

                                                                                                                                                                Black Baby Boomers - US - November 2009

                                                                                                                                                                £3,199.84 (Excl.Tax)