Marketing to Baby Boomers - US - July 2016
Baby Boomers are aged 52-70 and are making the transition from parents to grandparents and from full-time employment to full-time retirement. Although Baby Boomers have entered the second half of their lives, they don’t necessarily feel “old” and want to continue to have exciting, active, and fulfilling lives.
The majority of Baby Boomers have a positive outlook on life and are optimistic about the future, despite the fact that some face financial uncertainty as they age out of the work force. A quarter of this generation have aspirations to live in a retirement community in the future, and a similar share plan to relocate to a warmer climate. However, given their financial situations, many may find that they have to sell their homes and move to areas with lower costs of living to finance their “second act.”
This report examines the following issues:
- Baby Boomers behind on retirement saving
- Older generations feel underrepresented in advertising
- Baby Boomers demonstrate a relatively conservative outlook
For the purposes of this Report, Mintel has used the following definitions:
Baby Boomers: the generation born between 1946 and 1964. In 2016, they are between the ages of 52 and 70.
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