The health club surge, gourmet coffee, and exotic cigars in the 1990s, wine and pampering pets in the 2000s, cannabis and luxury travel in the 2010s, expensive bourbon in the last five years are all trends driven by Boomers.
Most of you reading this article are either a Baby Boomer or part of Generation X. The fact is that your generations are economically influential. And the affluent Boomers are becoming even more so as the influx of inheritances and history’s greatest transference of wealth flows.
That’s why I believe our local sales organizations should take a hard look at prioritizing local businesses that value these age groups in driving to the “new normal.”
Please don’t let your sales and marketing teams default to A25-54 in 000s or ratings when building advertising plans for local clients. They will completely miss the mark on delivering the American power consumer. And, we all know results are a must in this environment.
Boomers are as young as 55 years of age now, and a third of all Gen Xers are going to be 50 in the next five years. Keep this in mind as your teams help local advertisers and deliver local consumers:
Boomers control 70% of all disposable income in the United States. Whether your client sells what is considered to be a “want” purchase, versus a “need” purchase, they should have the Boomer Consumer squarely in their crosshairs as they prepare to re-emerge, especially if it’s a “want” purchase. As we’ve been sharing for months now, in preparing to pounce, advertisers must target the high-yield, heavy-use consumer in their specific category.
According to a recent Momentfeed.com survey, Baby Boomers are the generational cohort most likely to lead the resurgence back to brick-and-mortar businesses when concerns around COVID-19 subside.
Most of our local clients remain far more brick-and-mortar oriented than pure digital in their business models. They want foot traffic and Boomers are most likely to show up in their showrooms, offices, and floor space.
And you, my friends, have a DIRECT pipeline to Baby Boomer and Generation X consumers via your local content platforms.
Boomers still control the wealth and they’re eager to get back out and shop. The combination of television and digital is a solid one-two punch to effectively deliver this audience and help your clients re-emerge successfully.
JDA Partners – we are holding a webinar July 23, at 12noon EST. We’ll share consumption data and specific steps on how to leverage and market to this power consumer. Be on the lookout for registration.