In the U.S. alone, there are nearly 77 million boomers today, thanks to the Immigration Act of 1965, which added six million more to the average 72 million during the 19-year period officially called, “the baby boom”. Although, there’s no global record, to date on how many boomers exist in China, the current world population grows at one billion every 12 years say experts. Some 450 million worldwide (MIT AgeLab)
Within the next few years, 50 percent of the European Union’s population will be 65+. By 2030, in Italy, retirees will outnumber active workers. By 2050, the median age in Thailand will rise to 50.
During these hard economic times, every dollar counts and even if you are a boomer yourself, you’ll need to know the proper way to market to this post-war demographics.
Even this writer notice while on vacation how many boomers are taking more luxury cruises, staying in fancier hotels and booking the bonus trips for site seeing.
The world’s population of people 50+ is the fastest growing generation worldwide and predicted life expectancies are at an all time high say the experts. According to MIT AgeLab, an American turns 50 once every seven seconds.
The experts and media define a baby boomer as those born between
(and including) 1946 and 1964. And even the U.S. Census Bureau admits, “Different groups, organizations, individuals and scholars may have widely varying opinions on what constitutes a baby boomer, both technically and culturally.”
So many baby boomers have a disposable income. “They buy consumer boomer stuff, which includes: gourmet sundries, cars, vacations, entertainment, education and high-end anything.”
The near 200 page paperback is a quick read on marketing online; how to grab that audience just begging to buy your stuff; why baby boomers are buying now; the importance of Social Media influence and secrets that baby boomers don’t want you to know. The book offers the top 10 Most Important Marketing Secrets for Guerrilla marketers. The bonus tip: “Consistency is the marketing secret – to be consistent. Don’t change media, messages and don’t drop out of the public eye for long periods.”
The authors also contend that boomers don’t necessarily need to pinch pennies, clip coupons and save money. “Most of them don’t, but some do, because of the strong influence of their parents’ generation of the Great Depression,” Levin and Carter said. The book is chock full of resources from telemarketing to newsletters, direct mail, advertising and Online sites and free resources for startups.
If you think it’s not worth, you might consider these facts: In the United Kingdom, over-50s are currently 20 million strong, growing fast, and hold 80 percent of the nation’s wealth says the BBC. The estimated annual spending power of baby boomers is more than $2 trillion.
Here are some other suggested places and sites to get more updated on the next baby boomer business market: Geezer Planet, HelpAgingParents, Boomer Project, Jumpin’Jack Flash,The Mature Market,ChangingAging.org, BabyBoomersUS.net and SeniorsforLiving.com has the top 100 listed on its blog.
Other sites tracking the needs and wants the boomer mania and 50+ consumers searching for the best of their second and third life include: the AARP’s research branch – Focalyst, 50plus the Mature Market Institute. What is your observations and do you agree with the authors of the book that it is the next booming business on and offline? Feel free to comment below, we welcome your feedback.