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Description

Description

"At age 51-70, Boomers are currently the largest generation in the Canadian population and growing. There is a certain level of comfort with getting older as older Boomers find ways to deal with the symptoms of aging head on. As a segment, they feel disconnected and are misjudged for being inactive online. Moving into retirement, the majority of Boomers seek stability in their lifestyles."

- Carol Wong-Li Senior Analyst, Lifestyles and Leisure

This report looks at the following areas:

  • Boomers feel disconnected from other generations
  • Boomers are more tech savvy than they get credit for
  • Younger Boomers may need help preparing for the future

Typically thought of as a generation that is outdated and irrelevant, Canadian Boomers are anything but. While aging brings with it unique needs in terms of healthcare, Boomers are affluent and remain a key – and active – consumer group. Companies that shy away from using technology or e-commerce platforms as avenues to connect with this segment will alienate a segment that already feels misunderstood. Most importantly, the gap between Boomers and Millennials is not so wide, particularly as both generations place an emphasis on experiences over ‘things’.

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
    • Executive Summary

      • The issues
        • Boomers feel disconnected from other generations
          • Figure 1: How Boomers see themselves, June 2016
        • Boomers are more tech savvy than they get credit for
          • Figure 2: Use of online services, June 2016
        • Younger Boomers may need help preparing for the future
          • Figure 3: Attitudes towards retirement preparation, June 2016
        • Opportunities
          • Boosting brain power of Boomers
            • Figure 4: Attitudes towards the signs of aging, by gender, June 2016
          • Like Millennials, Boomers value experiences over things
            • Boomers and Millennials – Not as different as they appear
              • What it means
              • The Market – What You Need to Know

                • Boomers are the largest generation of the Canadian population
                  • Boomers are staying in the workforce longer
                    • Debt is a greater burden for today’s Boomers than ever before
                    • Market Factors

                      • Boomers make up one quarter of the population
                        • Figure 5: Canadian population, by generation share, 2015
                      • The Boomer population is on the rise
                        • Figure 6: Population aged 0 to 14 years and 65 years and older, as of July 1, 1995 to 2035*
                      • Health considerations of an aging population
                        • Weight management is a priority
                          • Figure 7: Body mass index, self-reported rate of being overweight or obese among Canadian adults, 2010-14
                        • Growth of elderly population will put greater strain on the healthcare system
                          • Growth of Boomer population will buoy industries
                            • Boomers currently make up nearly a third of the workforce
                              • Figure 8: Canada’s labour force survey estimates, by generation, 2015
                            • Boomers are retiring with more debt
                              • Economic factors
                                • Debt and Boomers
                                • Key Trends – What You Need to Know

                                  • Brands increasing exposure of Boomers
                                    • Questioning the need to inflate the artificial generation gap
                                      • Retirement stage may be less rosy
                                        • Boomers could use more tech support
                                        • What’s Working?

                                          • Marketers featuring Boomers
                                            • Engaging one cup at a time – Tim Hortons
                                              • Figure 9: Tim Hortons True Stores TV Commercial, “Dad’s Place”, 2016
                                            • Fashion brands showcasing Boomer women
                                              • Addressing physical effects of aging with real people – Depend Fit-Flex Underwear
                                                • Figure 10: Depend Real Stories TV Commercial, “How Kimberly got Back Out There”, 2016
                                                • Figure 11: Depend Real Stories TV Commercial, “How Sloan became Dad of the Year Again”, 2016
                                            • What’s Struggling?

                                              • Marketing to Millennials is creating a generation gap
                                                • There are common interests
                                                  • A new take on marketing to Boomers
                                                    • Boomers are carrying greater debt load into retirement
                                                    • What’s Next?

                                                      • Technology to support seniors
                                                        • Fighting the mental signs of aging with virtual reality
                                                          • Video conferencing keeps hospitals free and seniors at home
                                                            • Keeping an eye on senior health with the IoT (Internet of Things)
                                                            • The Consumer – What You Need to Know

                                                              • Boomers feel misunderstood by other generations
                                                                • There is comfort with aging, though help would be welcome
                                                                  • Three quarters use search engines as a pre-purchase touchpoint
                                                                    • Boomers are more tech savvy than they likely get credit for
                                                                      • Looking ahead, not many want to change their lifestyle
                                                                      • How Boomers Perceive Themselves and Their Generation

                                                                        • Boomers value responsibility
                                                                          • Figure 12: How Boomers see themselves, June 2016
                                                                        • Valued characteristics echo societal norms
                                                                          • Figure 13: How Boomers see themselves, by gender, June 2016
                                                                        • Marketing efforts should appeal to these characteristics
                                                                          • Figure 14: P&G TV Commercial, “Thank you, Mom”, 2016
                                                                          • Figure 15: Gillette TV Commercial, “This Father’s day, go ask Dad”, 2016
                                                                        • There is a sense of comradery with other Boomers
                                                                          • Women feel aligned, less so for younger Boomer men
                                                                            • Figure 16: How Boomers see other Boomers, by gender, June 2016
                                                                          • Marketing efforts need to balance togetherness and individuality
                                                                            • Boomers feel misunderstood
                                                                              • Not getting credit for the positives
                                                                                • Figure 17: The perception of Boomers, June 2016
                                                                              • Boomer men are most likely to feel disconnected
                                                                                  • Figure 18: Correspondence analysis – Boomer perceptions, June 2016
                                                                              • Boomers on Aging

                                                                                • Older Boomers are more comfortable with aging
                                                                                  • Figure 19: Attitude towards getting older, June 2016
                                                                                • Younger Boomers need help getting better prepared
                                                                                  • Boomer women are actively addressing the signs of aging
                                                                                    • Figure 20: Attitudes towards the signs of aging, by gender, June 2016
                                                                                  • Using technology to address mental aging for Boomer women
                                                                                  • Pre-purchase Touchpoints

                                                                                    • Three quarters are turning to search engines
                                                                                      • Figure 21: Sources of information, June 2016
                                                                                    • Boomers seek pricing and product information online
                                                                                      • Figure 22: Internet use for research, June 2016
                                                                                    • Boomer behaviour reflects that of younger generations
                                                                                      • Women’s quest for deals leads them to use print resources
                                                                                        • Attention please! Men aged 51-60 continue to be early adopters
                                                                                          • Figure 23: Internet use for research, Younger Boomer men vs overall population, June 2016
                                                                                      • Boomers on Technology

                                                                                        • Boomers are active online
                                                                                          • Figure 24: Use of online services, June 2016
                                                                                        • Men aged 51-60 are ahead of the average Canadian on managing finances and buying electronics online
                                                                                          • Opportunities abound for online retailers of clothing
                                                                                            • Boomers are polarized on the impact of technology
                                                                                              • Figure 25: Attitude towards getting technology, by age, June 2016
                                                                                            • Boomers are essentially on par in using alternative services
                                                                                              • Figure 26: Use of alternative services, June 2016
                                                                                            • The influence of having children at home
                                                                                              • Catering to seniors may yield gains
                                                                                                • Onboarding is an opportunity
                                                                                                • Looking Forward – Retirement

                                                                                                  • Boomers feel they are on track for retirement
                                                                                                    • Figure 27: Attitudes towards retirement preparation, June 2016
                                                                                                  • A work in progress for younger Boomers
                                                                                                    • Looking ahead, most Younger Boomers strive for stability in lifestyle
                                                                                                      • Figure 28: Attitudes towards retirement living, Boomers aged 51-60, June 2016
                                                                                                    • Experiences before things resonates with Boomers too
                                                                                                    • Canadian vs American Boomers

                                                                                                      • Canadian media need to do more to connect with Boomers
                                                                                                        • Canadian Boomers more likely to feel disconnected
                                                                                                          • Figure 29: How Boomers see themselves, Canadian Boomers vs US Boomers, June 2016
                                                                                                          • Figure 30: How Boomers feel they are seen by others, Canadian Boomers vs US Boomers, June 2016
                                                                                                        • Use of technology may be a factor
                                                                                                          • Figure 31: Use of online services, Canadian Boomers vs US Boomers, June 2016
                                                                                                        • Canadian companies need to provide more options and resources
                                                                                                        • Appendix – Data Sources and Abbreviations

                                                                                                          • Data sources
                                                                                                            • Consumer survey data
                                                                                                              • Consumer qualitative research
                                                                                                                • Correspondence methodology
                                                                                                                  • Abbreviations and terms
                                                                                                                    • Abbreviations

                                                                                                                    About the report

                                                                                                                    This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                                                                                    • The Consumer

                                                                                                                      What They Want. Why They Want It.

                                                                                                                    • The Competitors

                                                                                                                      Who’s Winning. How To Stay Ahead.

                                                                                                                    • The Market

                                                                                                                      Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                                                                                    • The Innovations

                                                                                                                      New Ideas. New Products. New Potential.

                                                                                                                    • The Opportunities

                                                                                                                      Where The White Space Is. How To Make It Yours.

                                                                                                                    • The Trends

                                                                                                                      What’s Shaping Demand – Today And Tomorrow.

                                                                                                                    Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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