The Baby Boom generation, born between 1946 and 1964, is the largest in American history, its numbers nearly 80 million—or about one-third of the country’s population. Its size—and buying power—have captured the attention of marketers, eager to capture the interest of this generally affluent group. Along with the mystique of the Baby Boomers, a variety of myths have sprung up over the years. Here are some of them—and the reality!
Myth #1. Boomers are all the same.
Although the media claim that the Boomer generation is a monolith, fact is, more changes occur during our lives between the ages of 50 and 65 than at any other time—careers, family, finance, health, all of which can significantly impact on attitudes, life goals, and consumer behavior.
Myth #2. Boomers are the "Me” Generation
Uh-uh. Boomers are caring for others, including their own parents—the "Greatest Generation" and their own offspring, and 70 percent report that they have a responsibility to make the world "a better place."
Myth #3. Boomers are technologically challenged.
In fact, Boomers were in the workforce during the advent of computers, e-mail and the Internet, and they’re the first to understand the importance of technology. In fact, more than 80 percent of Boomers routinely use the Internet, and they use it for instant messaging, downloading music and videos, financial activities, and online gaming.
Myth #4. Boomers are winding down.
Nope! The typical Boomer regularly engages in at least 10 activities. More than one-half take at least one trip annually, and 22 million of them attend live sporting events.