Advertisers Now Targeting Baby Boomers
By Ken Connors May 2009
For years, advertisers have always targeted young adults because of their expendable income and because they are more vulnerable to change. With the recent downturn in the economy in Canada, advertisers are finding many younger people are struggling more with their credit cards and to make ends meet. They also worry more about their jobs. Older people in the 50's and 60's have been somewhat ignored for years, having been stereotyped as not being flexible to change, but advertisers are now realizing things have changed. Adults aged 55 are likely to switch brands just as frequently as younger people which wasn't the case ten years ago as reported on CBC TV. The purpose of advertising is to encourage people to make a purchase and to switch to the advertised product.
One third of Canadians are considered Baby Boomers born between 1947 and 1966. They are now between the ages of 43 and 62 years old. The Baby Boomers, have their mortgages paid off, their kids education is a thing of the past, and the Baby Boomers are in the market for all kinds of purchases including luxuries. They have money in the bank and they can easily get credit
According to a Royal Bank of Canada study, 28 percent of this age group, have recently put off their retirement because their investments had shrunk. While their efforts are to continue working and keep on saving, they are also going to continue making purchases. What was once known as a quiet retirement at age 65 years, doesn't usually happen until years later as seniors are much more healthier and active and more willing to change.