The baby boomer generation refers to those born between 1946 and 1964.
Popular hobbies and activities with the 50+ crowd range from the clichéd (golf, fishing and gardening) to the surprising (brewing, day trading and political activism). And the marketing strategies to reach them in these pursuits are numerous.
Boomers Less Likely Than Millennials to Declutter
With a traditional work ethic, baby boomers have been known to view possessions as a measurement of success. With parents who lived through the Great Depression, it makes sense baby boomers prefer to keep things for future use.
Beauty products, clothing and shoes, and items related to home and garden round out the top five types of products boomers prefer to purchase in physical stores, with between 31% and 37%.
The core values of Baby Boomers include optimism, team orientation, personal gratification, health and wellness, personal growth, youthfulness, work, and involvement. When a workplace environment supports their values Baby Boomers are more satisfied with their jobs.
Housing. Housing is still at the top of the list. Even if baby boomers have a fully paid-off house, they still have to take care of property taxes, repairs, maintenance, etc. Across the United States, property taxes are on the rise as cities scramble to fund schools and other municipal services.
The baby boomers
While they only make up approximately 28% of Canada's population, they collectively contributed 41% of all money donated in 2017 according to Blackbaud's study on generational giving in Canada. The baby boomer generation continues to be one of the most giving and financially generous generations.
Much of this growth will be prompted by the aging of the Baby Boomers, who in 2030 will be aged 66 to 84—the “young old”—and will number 61 million people. In addition to the Baby Boomers, those born prior to 1946—the “oldest old”—will number 9million people in 2030.
According to some studies, baby boomers rated their health more favourably than their predecessors,7 8 whereas others did not report a significant difference9–11 or even found worse results in baby boomers.
The Pew Research Center uses 1928 to 1945 as birth years for this cohort. According to this definition, people of the Silent Generation are 77 to 95 years old in 2023.
Generation Jones and the Boomers
The Baby Boomer generation was born between the post-war years of 1946 to 1964. A subset of the Boomers, Generation Jones, was born in the later years of the Baby Boom, from 1954 to 1964.
(Belated apologies for how macabre this whole thing is.) The last member of the silent generation will likely have left us by 2067. The last boomer, by 2088. The last Gen Xer, by 2108, and the last millennial by 2132 — assuming the most generous definitions of those generations.
What wasn't foreseen was how long Baby Boomers would live. When the first Boomers were born, the average life expectancy was 63 years old. Today, Boomers can expect to live to almost 79 years.
Baby Boomers are confident, independent, and self-reliant. This generation grew up in an era of reform and believe they can change the world. They questioned established authority systems and challenged the status quo.
They found that younger generations are less hypersensitive than older generations. This suggests the millennial generation, which includes people who are currently between 23 and 38 years old, is less sensitive than the baby boomer generation, which includes people between the ages of 55 and 73.
The study, which was conducted by Michigan State University, and published in the journal Psychology and Aging, has found that Baby Boomers, are in fact more sensitive than Millennials!
Flavors Baby Boomers Are Craving
Though not typically adventurous eaters, boomers tend to favor traditional beef, pork, and seafood dishes on restaurant foodservice operation menus.
It was interesting. The webinar was about the fact that the people born between 1946 and 1964, known as the Baby Boomer generation, are the wealthiest generation in Australian history. According to the ABS, about 5.7 million Baby Boomers in Australia make up about 22% of the population.
"A study shows that millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their baby boomer elders by the year 2030," Morley Winograd, author of three books on the millennial generation, told Newsweek, quoting a 2019 research by Coldwell Banker ...
The average millionaire is 57 years old. As of 2013, 42% of millionaires are baby boomers (between 57 and 75 years of age), the majority of any age group. As of 2013, 19% of millionaires are millennials (between 18 and 31 years of age).