understanding baby boomer consumers: the sandwich generation

Understanding Baby Boomers: Sandwich Generation

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Objective

To review the life experiences and events of Baby Boomers, people born to Silent Generation parents between the years of 1946-1964.

Introduction

Crosscut is a brand consultancy helping brands shape their values in popular culture to create new authentic user experiences.

Baby Boomer icon Brand association Message of Change

The original peace symbol was designed by Gerald Homlton in 1958 for the British Campaign for Nuclear Disarmament.

Generations’ Cultural Impact on America

“That which seems the height of absurdity in one generation often becomes the height of wisdom of another.” Adlai Stevenson

The Truth About Baby Boomers

Baby Boomers have been the most influential middle class majority in the history of modern civilization for the past 30 years.

Demographics

Seventy-six million Americans, the second largest American demographic behind their offspring, Echo Boomers or Generation Y. There are 450MM Baby Boomers worldwide., the USA is only 17% of all Boomers.

Baby Boomers’ household wealth rose to $65 trillion before the Great Recession

1960s: Coming of Age

Baby Boomers came of age experiencing rites of passage simultaneously as the country began to experience social change, activism, equality and justice.

1970s: Economic Uncertainty & Female Power

High gas prices drove Baby Boomers to adopt smaller, more fuel efficient Japanese cars, impacting Detroit forever. And American women gained power in and outside of the home, and control of their bodies.

1980s: Chasing the American Dream, Status

The decadent period of excessive capitalism and conspicuous consumption. Greed trickled down and Americans discovered a new language of consumerism influenced by foreign consumers.

1990s: ‘Trading Up’ Lifestyle, Progress

With easy credit dual-income Baby Boomers traded-up their real lifestyles to meet their aspirations; accumulating more debt to finance the consumption of life, buying more things to achieve happiness.

00s: Security & Economic Uncertainty, Again

America changed after 9/11. People feel uncertain about the economy, their homes, jobs, kids, finances, retirement, long-term health and the direction of the country.

Now: Accepting Realities

Americans felt entitled to the dream as if it was their birthright. Greed became the nightmare of the American dream as citizens and country became cloaked in disgrace. Everything Boomers gained they lost.

Retirement: The Aging Ageless

Beginning January 1, 2011 every single day until 2030 more than 10,000 Baby Boomers will reach the age of 65. But they are living longer and better even as economic, personal and familial pressures increase.

Social Security: Healthcare Outpaces Inflation

Leading Baby Boomers, those born before 1952 are in their mid-60s, will have costs longer in life than their parents who are living past 100. America has more Centenarians, individuals living past 100, than ever.

Longer-Term: Healthcare & Issues

Baby Boomers will facer longer goodbyes and have more accumulated wealth than any previous generation. As risk of mortality increases Boomers must prudently plan for their families future.

Parent’s: Long-Term Eldercare

And, with Baby Boomers parents - Silent Generationer’s living longer, Boomers are emotionally challenged with eldercare and role reversals.

Preservation: Family Tree

Baby Boomer’s offspring, Millennials, are the largest demographic group ever, 80MM, will soon have to take care of their parents.

Mortality: What’s Between The Dash?

Arguably, most Baby Boomers have another 20-30 years of quality life. By then America will be majority ethnic.

Baby Boomer Insight

Baby Boomers are sandwiched between the true realities of who they are and their mission of making America a better place. They are at odd, caught in the middle, a struggle against time and the mankind they made.

Outlook

Baby Boomers are traditionally optimistic and are so as they age. Their adoption and use of technology means they won’t fade away. As pioneers of the computing age, Boomers will always remain in touch with society.

Conclusion

76 millionAmerican Baby Boomers are redefining who they are

and the American Dream.

Appendix

Facts & Data

• Baby Boomers have more discretionary income than any other life stage; double the discretionary spending of the youth market

• America has more people over the age of 60 than the age of 15

• Every eight seconds another American turns 50 years old; 12,000 per day and over 4MM per year for each year of the next decade

• Baby Boomers spend over $2.5 trillion on consumer goods and services

• Adults over 50+ own 65% of America’s aggregate net worth