What Do You Really Know About Baby Boomers?

Does your business have products or services of interest to customers classified in the baby boomer segment? If so, you should know more about these baby boomer facts.

Consider these facts about the baby boomer customer segment:

One USA boomer is turning 65 every 8 seconds — that rate will continue for the next 15 years.

The USA adult population has grown by 23 million in the 10 years between 2006 and 2016.

Ages 18–49 will have grown by 1 million — age 50+ will have grown by 22 million.

At age 50, we effectively have … a full 50% of our healthy adult life ahead of us.

An average American will buy 13 cars in the course of a lifetime — 7 after age 50.

Age 55-plus are … more active in online finance, shopping, and entertainment than those under 55.

Boomers inherit $8.4 trillion in the next few years; 70% of boomers will inherit on average $300K.

Net wealth of households headed by 65+ is 47 times greater than the net wealth of households headed by someone ❤5; 20 years ago the ratio was 10:1.

Have you added this target segment to your business strategy yet?

Mike Schoultz is a digital marketing and customer service expert. With 48 years of business experience, he consults on and writes about topics to help improve the performance of small business. Find him on Facebook, Twitter, Digital Spark Marketing, Pinterest, and LinkedIn.