While the current pandemic has forced many into job and economic uncertainty, there is one demographic group that is faring better than most—and could present a new audience opportunity for brands looking to offset declining sales from other target groups. They are the Adults 55–74 Boomer generation. According to an August eMarketer Analysis, there are three key factors contributing to this:
1.) This group tends to possess above average HHI and own their own homes, making them less unstable
2.) Given that many are of retirement age, they have been less severely impacted by the job market concerns and unemployment
3.) Though they will never be as digital as younger consumers, Boomers have been forced to become more digitally savvy in the pandemic
So why is this important for brands? In a time where every sale counts, you may need to pivot your audience priorities to capture those who are better able to spend. Especially now that Boomers are more ready to embrace products and services that may have seemed “too young” in the past like telehealth. This could be catering specifically to this audience with a dedicated message, similar to how retail and grocery stores created early bird lines for Seniors to ensure they were able to get supplies without the crowds. However grocery stores already had these consumers, and let’s face it, they were one of the retail categories that fared very well during the pandemic. Brick and mortar categories that are suffering such as retail stores, beauty, and restaurants should put a greater emphasis on winning over the Boomers during this time. This is especially since it typically takes only two weeks to start a long-lasting habit—with the pandemic going on seven months with no end in sight, Boomers’ new digital behaviors are likely to stick for a long time, and they may be in the better position to support brands through the continued recession.
Need help pivoting your business and marketing strategies to reach a new audience? Ignited has over 21 years of experience from strategy and research through to in-market and channel executions across all consumer audience segments, including Boomers. Contact us for a consultation today!
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