There has been a push lately to understand the business surrounding baby boomers: what they like, what they don’t like, how they like to be addressed and identified. A recent New York Times article addresses the shift in advertising targeting the 55+ population, and reasons why major advertisers are redirecting their efforts to include this major demographic after years of focusing on other groups.
“In some ways, they are the ideal consumer. They have money, they consume loads of media, and they remain optimistic,” Stephanie Pappas, a senior planner for BBDO NY told the Times.
Marketers that have typically catered a younger demographic are now focused on boomers, the article says. Those include Kellogg’s, Sketchers, 5-Hour Energy and Jeep.
The Times report also cites a shift from NBC, toward marketing to older Americans. To avoid shifting advertising and marketing attention toward that population is “a big mistake,” Alan Wurtzel, the president of research for NBC Universal, told the Times. “You risk not only growth, but at some point you risk your brand,” he said.
The article points to some spending areas not traditionally associated with baby boomers where they are now spending their money. The NBC study showed they spent more than the average consumer on home improvement, large appliances, casual dining and cosmetics.
Further, the Times points to a misconception about baby boomers: that they want to appear younger than they are. Those marketing to the population are starting to catch on.
Read the New York Times article.
Written by Elizabeth Ecker