FH Boom has collaborated on a research study in conjunction with NMI’s proprietary Healthy Aging/Boomer™ (HAB) research project to give marketers a first glimpse of the Boomer consumer at age 70. Hint: think of boomers at 70 not so much as revolutionaries, but as ‘retrolutionaries’. By this definition, retrolutionaries are the vast majority of Boomer-aged consumers who are aiming to get their monetary expenditures in better alignment with values formed at an earlier stage in their lives. Think the 2016 version of Birkenstocks and the equivalent of VW back in the 60's: living affordably, but with style.
"For the rest of today's blog, continue at The Boomer Blog"
The research was released this week at the What’s Next Boomer Summit, and was also presented at the annual gatherings of the nation's two largest professional associations in aging—the National Council on Aging (NCOA) and the American Society on Aging (ASA) taking place in DC.
In brief, today’s Boomers predict that when they turn 70:
• 74% still won’t be describing themselves as old
• 86% will be more practical and pragmatic in their purchases, and much less concerned about trendiness and indulgences
• 76% will be using technology to stay connected with family and friends
• 93% will have more time to do things like travel, dine out and pursue hobbies
• 63% will be making some kind of move, but only 9 per cent of Boomers now in their 50’s or older imagine themselves at 70 still in search of “the dream home”
“While Boomers will still be accountable for over 2 trillion dollars of consumer purchasing power, there appears there will be a fundamental shift in their buying patterns,” says Steve French, managing partner of Natural Marketing Institute (NMI), the leading market research and strategic consulting firm specializing in healthy aging, wellness and sustainability. Global public relations agency Fleishman-Hillard’s marketing-to-Boomer initiative, FH Boom, collaborated on the study in conjunction with NMI’s proprietary Healthy Aging/Boomer™ (HAB) research project including 1100 plus boomers, now in its fourth year.
To read more about the study, click here
Carol Orsborn
Comments (1)
I like your article very much ,its very impressive .I really feel very exited while reading your blog.its really helpful for me to get more knowledge on the subject.
Posted by alanrick | March 28, 2008 4:58 PM
Posted on March 28, 2008 16:58