Tuesday, August 07, 2007

Boomer Elites = Charmed Generation

Whenever I talk about the Charmed Generation somebody in the audience always asks me: “do they exist in other countries”. My instinctive reaction is: “yes” – and then move on swiftly.

It is nice to have a bit more fact to back up that statement. The research done by Focalyst shows that only a few Boomers are truly affluent.

Focalyst reckons that 1 in 10 Boomers can be classified as ‘Elites’, defined as having an annual household pre-tax income of $150,000 or $100,000, if retired. Almost all Boomer Elites are married; college educated; and live in a residence valued at almost twice that of the average Boomer.

I have set the income and asset bar somewhat lower than Focalyst and I arrive at a figure of 2 in 10 in the UK’s 50-plus who are in the Charmed Generation.

The important point is that this group are different to your everyday run of the mill Boomer. Focalyst’s research of their media use makes this point (see above). You get a similar pattern in the UK.

So the next time anybody is dumb enough to ask you the question: “How do the 50-plus (Boomers) use the Internet” – ask them if they are talking about the Charmed Generation (Elites) or the rest. Dick Stroud

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