A recent report by Nielsen in collaboration with BoomAgers, shows that in five years, 50% of the U.S. population will be 50+. Born before 1965, the baby boomer and senior consumers spend close to 50% of all Consumer Packaged Goods (CPG) dollars yet marketers gear less than 5% of advertising towards them. These high potential and lucrative consumers have been largely ignored by online marketers since aging out of the popular 18-49 cohort.
And, one of the biggest misconceptions about marketing and advertising to Baby Boomers and seniors is that social media and online marketing and advertising only appeal to a narrow, niche and much younger crowd. While it is true that teenagers and young adults are often the first to adopt new technology and online platforms, the Baby Boomer and senior generations are never far behind.
In fact, at more than 110 million strong, combined Baby Boomers and seniors represent the single largest consumer group in America, spending more than $7 billion online every year. These customers currently make up one-third of all online and social media users, with more than 8 million individuals spending more than 20 hours a week online and growing.