Both millennials and boomers
said they were happy to save, and the vast majority equated doing so with financial security.
Many companies mistakenly assume that Baby Boomers
have already fixated on the brands from which they will buy and that their earning and spending potential is on the decline, and so they've lost interest in marketing to them.
When you think about the various social and political events that occurred during that time span, it's a wide enough gap for early and late boomers
to have lived through some dramatically different experiences, which shape the way they think and shop today," she states.
If the party preferences of each generational group were to hold steady in the coming years as the Democratic-leaning baby boomers
gradually replace the more Republican Silent and Greatest generations, the country as a whole would likely become more Democratic.
do not respond well to structure, to procedure, to advisors who say to them, this is the way we've always done it and we're going to do it this way for you.
Overall, prepared Boomers
seemed to make better financial choices than the unprepared.
As a result 81% of 2nd Wave Boomers
report still owning an employer-sponsored retirement plan (up significantly from one year ago), compared to just 57% of older Boomers
who currently own ESRPs.
The survey notes also that 20% of these boomers
don't save enough in their company's retirement plan to even capture their employer's match.
The important thing for CPG marketers to remember is that boomers
are not a homogeneous group, so sweeping strategies will not be effective.
are also "lightening the load," which has implications across future home ownership (or non-ownership), preference for services versus product purchase, etc.
will bring their family members into your institution if you get them hooked.
Single-store operators who have close ties to their customers may be in a better position to attract and keep boomers
in their stores.