The Last Gray Straw on Demographics
I read too many marketing and advertising magazines, and they are making me scream. They are missing the bull’s-eye by a mile.
There is a huge demographic shift in American consumers. If you keep aiming your bow at the “younger targets,” you will be aiming at a tiny circle.
The number of American ages 65-74 grew by an impressive 44%. The 18-24 group decreased. Baby Boomers (55-75) spend a total of $548 billion annually; Millennials (25-35) spend $322 billion. Nielsen and Marketing Charts expect that Baby Boomers will control 79% of disposable income in the next five years.
All America needs to learn how to talk to “older” Americans, who don’t just buy prescription drugs and financial advising. Boomers need to start seeing themselves in marketing materials.
If you can’t hit the target, someone else will.