Boomers are recalibrating their lives as they age, but marketers shouldn’t underestimate the value of this graying generation. They’re still the top spenders in nearly every category and keep in touch with trends from tech to beauty.
Here are a few insights about the boomer generation that might take you by surprise:
1. Boomers influence millennials. More than half of Millennial consumers seek input from their parents — not only on big purchases like homes, cars, appliances and insurance, but also when buying electronics, clothing and food, according to a recent survey by the consumer insights research team at Iconoculture*. Some respondents went so far as to report that they seek advice from their Boomer parents for “anything” and “everything.”
2. Boomers are tech-savvy. By late 2016, even the oldest Boomers had ramped up their use of broadband internet and smartphones to general-population rates. A majority of Boomers view smart-home technology positively, particularly favoring thermostat apps and remote alarms, and a third plan to purchase at least one such device in the next five years, according to Iconoculture.
3. Boomers aren’t stuck in their (beauty) routines. Marketers tend to assume that Boomer women have retired from the beauty game. In reality, many remain cosmetically curious, driven by a desire to combat signs of aging such as wrinkles and gray hair as well as more free time and resources to play with products and revise routines. One brand catering to this demographic is Boomerluxe, a subscription service for older women that delivers beauty and lifestyle products to their door on a monthly basis.
This is the first article in a new series introducing research from Iconoculture, which is now part of the Gartner for Marketers research and advisory offering.