For almost 40 years marketers have been
obsessed with the 18-49 year-old demographic segment. To them, if you were 50 or
older, you did not exist. Turns out for the next ten years, the opposite is
true: In a startling analysis of U.S. Census data by the SIR Boomer Project, the
18-49 segment is « dead » – virtually no population growth at all from 2006 to
2016 (from an estimated population of 135.1 million in 2006 to 135.9 million in
2016).
The 50+ segment will undergo a tremendous change as the rest of the nation’s 78
million Baby Boomers turn 50 over the next ten years, causing that segment to
increase 25 percent in size between 2006 and 2016 (from 89.3 million in 2006 to
111.3 million in 2016).
« Marketers trying to grow their business over the next ten years can either
target the stagnant 18-49 segment, or they can develop strategies to appeal to
the fast-growing 50+ segment, » said Matt Thornhill, president of marketing
research and consulting firm the SIR Boomer Project. « Our message to marketers
is ‘It’s the demography, stupid.’
« We doubt there’s a CEO out there willing to bet the business on a stagnant
market – success over the next ten years will depend on developing plans for
reaching aging Boomers, » said Thornhill.
In a recent SIR Boomer Project national study with Survey Sampling International
among Boomers and younger adults, the SIR Boomer Project learned that most
Boomers over 50 see themselves in early « middle age » and that « old age » will not
begin until age 75. That means they will remain active, vital consumers across
all industries and categories for 20 or more years to come.
Compounding the perception that those over 50 are no longer important consumers
is the finding from the research that younger adults, those under 40, think
someone is « over the hill » at age 57. Those perception gaps between aging
Boomers and younger adults in charge of marketing budgets will need to be
bridged, and soon.
« Marketers ignoring Boomers simply because they are now over 50 is not just
short-sighted, it’s fiscal suicide, » said Thornhill.
More information is available at http://www.boomerproject.com. Contact Matt
Thornhill, 804-690-4837.
About the SIR Boomer Project
The Boomer Project is the leading national authority on marketing to aging Baby
Boomers. Its research and insights help marketers better understand the mindset
today of America’s largest demographic segment. The Boomer Project is an
initiative by the Southeastern Institute of Research, Inc. (SIR), one of the
nation’s oldest and most experienced marketing research companies.
SIR has conducted more than 12,000 custom-designed marketing research studies
for some of the most respected companies and organizations in America, including
AT&T, GE, Polaroid, AARP, Owens & Minor, National Kidney Foundation and Virginia
Tourism Corporation.
About Survey Sampling International
Survey Sampling International (SSI), located in Fairfield, CT, USA, is the
preeminent supplier of sampling services to the market research industry in the
USA, Canada, and Europe. Since 1977, SSI’s staff of 85 professionals has been
dedicated to providing samples for survey research. With an established
reputation for service and quality, SSI supports over 1,200 organizations
worldwide.
Source: Southeastern Institute of Research, Inc. Boomer Project
All of the above text is a press release provided by the quoted organization.
globalagingtimes.com accepts no responsibility for their accuracy.
