Dear Readers;
The world is focused on Millennials, that sexy segment of the population that is under age 34. As a market researcher I continually see client requests seeking insights into the hearts and minds of Millenials. What makes them tick? What attracts them to brands? How can we motivate them to shop our products?
Millennials are important of course, but senior lives matter too.
Boomers, born between 1946 and 1954 buy candy and liquor and sexy lingerie. They drive Harleys and renovate homes, they exercise and do yoga. They work, they retire, fall in love and travel. They make up a larger segment of the population than ever before, and have more discretionary income. According to a Forester report in 2015, Boomers drove 35% of all discretionary spending.
So why are Boomers and even the generation beyond being ignored from consumer research except for health care products and services specifically targeted to “older people?” Why are we continuing to recruit participants aged “25-54” in most research forums? Is it bias? Discomfort with confronting mortality? Or just the expectation that the potential for customer longevity is longer with Millennials?
I think many marketers are missing the boat!
Senior lives matter- not just for their buying power, but also for their brains, insights and experiences in living longer. Effective market research and marketing to seniors requires deep understanding of their culture, survival tactics, expression and more. As we see in Millennials, Boomers are a complex, multi-faceted generation.
Let’s not ignore them.
Laurie Tema-Lyn
Practical Imagination Enterprises
laurie@practical-imagination.com
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