Despite many marketing trends, baby boomers make up one of the largest sectors of consumers. Generational studies show that nearly 70 million people in the U.S. fall into this category comprising about 40% of the market share.
Baby boomers are affluent and control an estimated 70% of all disposable income. As parents of their generation continue to pass away, baby boomers will inherit nearly $13 trillion.
Contrary to perceptions of many young people, boomers are tech savvy and now spend as much time in the cyber world as they do in watching television. Ninety-six percent use search engines, 95% email, and 92% shop for products and services online.
Boomers have been more health-conscious than earlier generations, due in part to President John F. Kennedy’s interest and funding of physical fitness programs across the country. Ongoing medical and scientific advances make it possible to live healthier and longer lives. Unlike their parents who looked at retirement as the time to relax, boomers remain active, working longer, entering second careers, running businesses and doing things they never had time to do when younger.