San Diego Business Journal

Baby Boomers and the New Aging

ADVERTORIAL: Senior Living Supplement Monday, November 5, 2012

Myth #6 - Boomers are brand loyal and will not switch.

Commonly thought to be set in their ways, Boomers are just as likely as younger consumers to experiment with new products with 61 percent agreeing that in today’s marketplace, it doesn’t pay to be loyal to one brand.

Myth #5 - Boomers are all wealthy.

Collectively Boomers are the wealthiest generation in history, but only nine percent are truly affluent (defined as having pre-tax incomes of $150,000 or more if working, or $100,000 or more if retired).

Myth #4 - Boomers are winding down with age.

Actually, the typical Boomer is very active and participates in an average of 10 activities including regular travel (60 million took at least one trip last year), attend live sporting events (22 million), and bicycling (11 million).

Myth #3 - Boomers are technologically challenged.

Boomers were in the workforce during the evolution of computers, e-mail and the Internet, and were the first to understand the value of technology. 82 percent of Boomers use the internet regularly.

Myth #2 - Boomers are the “Me Generation”.

A label of “We Generation” is more accurate. They are caring for others with 70 percent saying they have a responsibility to make the world a

better place.

Myth #1 - Boomers are all the same.

Nothing could be further from the truth. More life events occur between the ages of 50 and 65 than in any other time in a person’s life, with the typical Boomer experiencing an average of two major life events around career, family, finance or health each year. These life events can have a major impact on attitudes, life goals and consumer behavior.

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