Boomers comprise approximately one-quarter of the population and have nearly $3 trillion in disposable income, making this group a substantial consumer force in the marketplace. AARP produced this report to understand the perspectives of Boomers across the following categories: Post-Recession Reality, Work, Finances, Health, and Lifestyle. Additionally, the report addresses the specific spending habits of Boomers in transportation, healthcare, and entertainment.
The report provides an overview of Boomers’ perspectives on retirement, finances, health, and lifestyle. As the older adult population increases with the aging of the massive Boomer generation, it will be essential for marketers to understand how to best reach and inform this audience. Boomers have postponed retirement and plan on staying in the workforce longer than generations before them.
Other report highlights include:
- Forty-eight percent of Boomers currently in the workforce indicate that they will volunteer or do more community service after retirement.
- As Boomers age and begin to prioritize life at home, they are willing to spend money to make their homes more age-friendly.
- Boomers will create an opportunity for innovation among transportation companies, home-delivery services, and home-renovation businesses.
How to Use
The report focuses on the feelings and preferences of the Boomer population and the best approaches marketers can take to attract this consumer group. Marketers can use this AARP report to understand better how to connect with Boomers on a values-basis, without stereotyping them as old and/or senile. The report offers useful, informational guidance that will benefit marketers seeking to reach successfully the older adult population.
View full report: 50 and Over: What’s Next – 2011 (PDF – 1.2 MB)