Over the next 6 years spending by people aged over 55 will increase by 52% to $121 billion. It will account for 31.6% of total retail spending. There is therefore increased commercial interest in niche market researchers with insights into what makes baby boomers tick. We have added a section in Links to cover these firms at http://www.findem.com.au/resources/resourcesarchivek.php .
An article in this week’s Financial Review by Neil Shoebridge provides a concise tour de force of the subject. He reveals a disconnect between the (mostly young) add agency people and the baby boomers. Some quotable quotes from the some of the niche marketers are as follows :
* 'Over 50's think advertisers treat them like ghosts or people who are on the shelf. They just want to be treated as intelligent human beings.' (Matt Crawford - Sofa Communications)
* 'Baby Boomers will be the largest, most affluent, most demanding, most self empowered and least traditional generation of over 50's in history.' (Carol Davis - Carol Davis & Associates}
* 'For those companies concerned about lifetime value of customers, the oldest baby boomers still have on average 25 years to live.' (Charlie Nelson - foreseechange)
Posted Thursday, 30 March 2006
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