Tuesday, July 17, 2007

Boomers Drive U.S. Consumer Confidence

The US’s Department of Labour Consumer Expenditure Survey shows that Baby Boomers outspend other generations by an estimated $400 billion each year on consumer goods and services. That’s a lot.

Are the Boomers a happy and confident bunch? Well not according to the survey conducted by the Boomer Project and BIGresearch.

For each of the last nine months, according to the monthly BIGresearch Consumer Intentions & Actions CIA) study among more than 7,000 consumers, Boomer Consumers report lower scores than both older and younger generations when it comes to their confidence in the U.S. economy over the next six months.

"This is hard proof that today's older Boomers still fuel the U.S. economic engine," said Matt Thornhill, president of the Boomer Project. "Let's hope this wakes up the remaining skeptics who think marketing and retailing is all about the young -- it isn't. Boomers are still critically important consumers."

There is a lot more in this press release worth reading. I suspect the data for the UK would look pretty much the same. Dick Stroud

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