Startling Boomer+ Stats!
I call them (us!) "boomers & geezers." Boomers alone number about 75 million. The goal of this short post is not heavy analysis. It is simply a vivid and brief set of seven startling numeric facts—that, current economic turmoil notwithstanding, aim to make the case for oldies as by far the most significant marketing opportunity in history.
**55+ > 55-
**1/8/20 (One USA boomer is turning 65 every 8 seconds—that rate will continue for the next 20 years.)
**22/1/10 (USA adult population will have grown by 23 million in the 10 years between 2006 and 2016. Ages 18–49 will have grown by 1 million—age 50+ will have grown by 22 million.)
**50@50 (At age 50, we effectively have ... a full 50% of our healthy adult life ahead of us.)
**7/13 (An American will buy 13 cars in the course of a lifetime—7 after age 50.)
**55+ > 55- (Age 55-plusers are ... more active in online finance, shopping, and
entertainment than those under 55.)
**8.4 (Boomers inherit $8.4 trillion in the next few years; 70% of boomers will inherit on average $300K.)
**47X (Net wealth of households headed by 65+ is 47 times greater than the net wealth of households headed by someone <35; 20 years ago the ratio was 10:1.)
The way I summarize "all this" in my presentations is as follows:
We are the Aussies & Kiwis & Americans & Canadians. We are the Western Europeans & Japanese. We are the fastest growing, the biggest, the wealthiest, the boldest the most (yes) ambitious, the most experimental & exploratory, the most different, the most indulgent, the most difficult & demanding, the most service & experience obsessed, the most vigorous, (the least vigorous), the most health conscious, the most female, the most profoundly important commercial market in the history of the world ... and we will be the Center of Your Universe for the next twenty-five years. We have arrived!
(Above ... Winter Sky in Vermont the day after Thanksgiving 2011.)