June 6, 2013 at 9:55 AM

Boomers and Seniors Are Big Business

Recon Thursday/People

By James Glover

Once a Day Marketing

James Glover, That Branding Guy, provides the inspiration and ideas for you to build more mindshare and capture marketshare with your customers in his Once a Day Marketing blog. Tune in often to his short, entertaining and practical marketing and branding tips and watch your organization become more successful and profitable.

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Once a Day Marketing™ featured video blog: Targeting the Boomer and Senior Market

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Recon Thursday and we want to ensure you understand the huge market potential of boomers and seniors.

Information for today’s blog comes from an issue of Entrepreneur Magazine. In an infographic about Boomers and Seniors, Entrepreneur shares the size of the market, income and spending statistics of this group.

The combined market for Boomers and Seniors in the United States is 117 million people. Collectively they spend $2 trillion dollars annually and account for more than half of the sales in most categories across all purchases.  One out of four consumers is a Boomer and 40% of those Boomers have an average annual household income of $140,000. The same Boomers, 46% of them, have a net worth of approximately $2 million.

Those are pretty amazing statistics. If you haven’t been targeting Boomers and Seniors evaluate whether or not incorporating that segment into your marketing plan is a good fit for your company. They have the desire to spend money and, even more importantly, they have the money to spend.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

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