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Baby Boomers – A Lucrative Market Segment – Behaviourial Statistics

Background

 

 Baby Boomers are a large cohort of the Australian population (27%) who were born after service men and women resumed their place in Australian society after six years at war. Different sources vary, but generally, it is the twenty years immediately after World War II. More than 4 million Australians were born during this time. The Australian Bureau of Statistics defines baby boomers as those born in the years 1946 to 1965 inclusive (ABS, 2011).

 The Baby Boomer Consumer Psyche

 I am a Baby Boomer with one kid at Uni in Melbourne and one in year 12. Like me, many Baby Boomers are already, or are very soon, going to be empty nesters.  And whilst some of us will continue to assist our kids whilst they complete their tertiary education, we can now focus on our fun and happiness.  Whilst the rest of the country is buckling down and economising, we are busy planning to enjoy some freed up time and money.  We no longer feel obligated to provide an inheritance to our children and are eager to spend while we still have good health.

 According to an article in a recent edition of Ad News, we hold 40% of the nation’s wealth with the average household net worth in excess of $1 million. Baby Boomers are open to new technology, trying new brands and experiences of all kinds. “There are now over 4.7 million 50 to 69-year-olds in Australia now enjoying this era of unprecedented financial and personal freedom.”

Some Interesting Statistics from Ad News About Baby Boomers

IS YOUR BUSINESS CAPITALISING ON THIS MARKET OPPORTUNITY?

 

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