With all the hype today about diversity in advertising, I recently found a statistic that shows me that today’s “diversity” is more hype than reality: while the 50-plus demographic makes up approximately 50 percent of all consumer purchases, only about 10 percent of marketing dollars are spent to target this age group. I have seen articles talking about the importance of reaching Gen Z and Gen Alpha, but it’s rare to see anything written about targeting Baby Boomers. (Recently I saw an editorial in The Oklahoman that addressed this group; I have borrowed heavily from it for this blog.) We are still a force to be reckoned with because we have buying power.
The 50-plus demographic controls 75 percent of our nation’s assets and holds 70 percent of our country’s net worth. We own more homes than any other age group; we purchase 41 percent of all new vehicles, and we spend 74 percent more on vacations than those under 50.
Keep reading this article on Infinity Concepts.