The importance of Baby Boomers & Wealth...

To reach Baby Boomers who have somewhere around US$2 trillion in annual spending power, combined with plenty of disposable time, marketers should look closely at avenue's such as AARP to expand their brand via marketing partnerships that add value. Consider these recent statistics:

Baby Boomers have more than 50% of discretionary spending power (2.5 times the
average per capita); Baby Boomers have 70% of their personal wealth in financial institutions; Baby Boomers own more than 70% of the financial assets in America;
Baby Boomers control nearly US$9 trillion in net worth (70% of the total for US
households); Baby Boomers own almost 50% of the credit cards in the US (representing 40 million credit card users).

All marketers need to understand that the central concept in reaching this financially powerful group is the idea that image is critical. They don't consider themselves "old" and they don't want anyone - especially advertisers - to view them as old either. When you talk to most of them, they'll say they feel like they're 40 years old. To them, "old" is someone in their late 70s or 80s. Gone are the days of ads where 60 year-olds are identified by grey-haired people walking slowly. And despite recent research showing that Boomers are not set in their ways when it comes to product choices, many marketers still seem to be set in their ways, still focusing on younger consumers. But some studies have shown that Boomers can be more receptive to advertising than their Generation X and Y counterparts, who tend to reject marketers' claims far more readily.

Luxuria Marketing
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