There are significant attitudinal and spending differences between older Boomers (born 1946-1955) and younger Boomers (born 1956-1964), according to SymponyIRI Group. Younger Boomers typically spend 10% more on consumer packaged goods than older Boomers do, and 25% more than Seniors do.
As consumers age, they spend less on beauty and personal care items and more on healthcare items.
Seven in 10 Boomers (70% of younger and 71% of older Boomers) consider themselves overweight, compared with 62% of adults overall. Boomers are only slightly more likely than average to be concerned about their weight, however. There are more significant differences in levels of concern about other health problems.
For example, older Boomers are 24% more likely and younger Boomers are 14% more likely than average consumers to be very or somewhat concerned about their cholesterol. Older Boomers are 14% more likely and younger Boomers are 9% more likely than average consumers to be concerned about becoming diabetic.
In some ways, older Boomers’ spending more closely resembles that of Seniors than it does that of younger Boomers. Older Boomers spend 61% more than average and Seniors spend 45% more than average on home health care kits, while younger Boomers spend 10% more than average on these products.
Similarly, younger Boomers are 19% more likely than average to buy sports drinks, but older Boomers are 31% less likely than average and Seniors are 55% less likely than average to buy them.
Younger Boomers are 19% more likely than average to buy energy drinks, while older Boomers are 26% less likely and Seniors are 61% less likely than average to buy them. Two thirds of Seniors and nearly six in 10 older Boomers take multivitamins, compared to fewer than half of younger Boomers.
Source: “Baby Boomers: Riding the Wave of Diversity,” September 2012, SymphonyIRI Group, Susan Viamari, Editor, Times & Trends, 150 N. Clinton St., Chicago, IL 60661; 312-726-1221; susan.viamari@symphonyiri.com; www.symphonyiri.com. Price: Available online at no charge.
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