The other day I had a meeting with an organisation that had a very strange idea. Sorry, I have to be very vague otherwise you could guess the name of the company. Let's just say they have lots of information that we all use, especially older people. Their idea was to create a 'category' of products that could be termed 'for oldies'. Obviously, not that name but that was the idea.
I thought it was a bad idea.
They guy I was talking with was asking about what these older people buy.
I should have pointed him at this MediaPost article that gives some good facts and figures.
US Boomers buy:
Autos (65% of all new autos)
Gardening materials (#1 hobby)
Luxury travel and vacation homes
Pharmaceutical and technology
94 % of all CPG categories
They also pay for 35% of their children's cell phone bills. They also purchase a lot of goods and services for their parents.
These oldies are a strange bunch because they buy so many of the same things as their children and grandchildren except they often buy a lot more and the more expensive (profitable) brands. Strange that. Dick Stroud