We’re hearing a lot about “Baby Boomers” lately – the generation of people born between the early 1940s through the early 1960s. And the attention they’re getting is well deserved, especially this month (August), which has been declared “Boomers Making a Difference” month. A recent report published by USA Today says, “Baby Boomers and their elders are making up an outsize share of consumer spending,” a trend significantly impacting the U.S. economy.
The numbers can’t be ignored: “The 50-plus and 60-plus population is clearly playing a large role in consumer spending and older consumers are going to become more significant as these trends intensify,” the report continues. The USA Today report also cites data from Visa and Moody’s Analytics, most notably the fact that “Americans 55 and older accounted for 41.6% of consumer spending, up from 41.2% late last year and 33.5% in early 2007.”
That’s something to think about when you’re strategizing advertising and marketing tactics and creating your business plans… Many businesses focus on reaching younger audiences, maybe to maintain a sense of youthfulness and as an attempt to “stay relevant” and “keep current.” But if you’re only targeting “Millennials” (consumers generally born between 1982 and 2004), you may be missing out. An advertising industry analyst says, “The fastest-growing segment is the Boomer consumer. And they have a higher level of discretionary spending power.” He advises, “Companies should tailor separate campaigns to different age groups.”
Need ideas for reaching Baby Boomers? Work with us at IOP Communications and we can brainstorm together to develop marketing campaigns and strategies to reach all types of consumers, including the Baby Boomers! Learn more by reaching out to us at any time at email@example.com or by calling 732-758-6280.
Promo Item of the Month: Bookmark Magnifiers
Did you know that August is "Boomers Making a Difference Month"? Help your customers see text and read packaging and prescription bottles more clearly – while reminding everyone about your business (and how helpful you are!) – when you imprint your logo and/or business info on bookmark magnifiers featuring 3x magnifying power! Custom-imprinted for less than $1 per piece – call 732-758-6280 or email firstname.lastname@example.org for a free quote. (Minimum order quantity: 250)
How do you define “creativity”? It can be defined in many different ways. It all depends on what perspective you’re taking when you define it. You could be looking at creativity through the eyes of an artist molding clay or painting with a brush, or an engineer or scientist innovating and developing a new product, or as business owners who are coming up with solutions to everyday problems related to their businesses. However you choose to define it, creativity is all around us. Experts say it’s driving our economy, and that we’re living in the “Creative Age.” This blog post is an excerpt from a popular post we published a few years ago, but the “creativity” conversation continues today – and it’s just as relevant as it ever was because…
We are living and working in the “Creative Age”! In an article in U.S. News & World Report a few years ago, Richard Florida, a professor and author of The Rise of the Creative Class: Revisited, says, “We had three great ages in recent history. The first was the modern Agricultural Age... Then we shifted from the Agricultural Age to the Industrial Age, and that created the great economic revolution and propelled the United States to dominance. But now over the past three or four decades, we have shifted to the Creative Age. We saw that beginning to happen in 1980. In about 1980 you could see more than 20 million new members of our workforce joined the creative class.”
Today, it’s estimated that 40 million people are part of the “creative class”… Are you one of them? If you’d like to learn more about how you can use creativity to help you build more momentum for your business, we’re here to help you do that at IOP Communications. Let’s talk!