(Steve..can you run this video?)
And what was I thinking?
• Post Defrag last year I had this modest
• A. I was aging
• B. There were all these really smart people in
this room, and on the program…
• C. I wasn’t sure they weren’t doing much if
anything for my people.
• D. I wasn’t much very good at creating slides…
• Headlines…11/16/2010 .& 11/18/2010
• Will Boomers ever yield the stage?
• Tired of the Baby Boomers
• Other generations are weary of their place in the
• Are Baby Boomers becoming the hated
• Oh..and..”Every day more than 5 million people
read USA TODAY to get their news.”
Now some data about Baby Boomers?
• "It's actually a myth that baby boomers aren't
into technology. They represent 25% of the
population, but they consume 40% [in total
dollars spent] of it," said Patricia McDonough,
senior VP-analysis at Nielsen Co.
How much do they spend?
• The 46- to 64-year-old group now spends
more money on technology than any other
demographic, They averaged around $650
spent in online shopping vs. Gen X ($581) and
Gen Y ($429) over a three-month period.
And how about social media?
• Among 50- to 64-year-olds, social-media
usage grew by 88% from April 2009 to May
2010, up from 25% to 47% of all users in that
age group, according to Pew Internet. And one
in five of them now use social media every
day, up from one in 10 last year.
How much do they spend?
• Spending by the 116 million U.S. consumers
age 50 and older was $2.9 trillion last year - up
45% in the past 10 years. according to an
analysis for USA TODAY of U.S. Bureau of
Labor Statistics data by The Boomer Project.
Just in case you didn’t get it?
• The 78 million boomers born between 1946
and 1964 make up 28% of the U.S. population
and own more than 77% of all financial assets
And what’s the risk of ignoring them?
• Marketers who ignore Boomers do so at their
peril. Boomers are about to get a lot richer.
Maybe not as rich as before the recession, but
• People 50 and older will inherit an estimated
$14 trillion to $20 trillion during the next 20
• (Present existing net worth...$38 Trillion...)
What else are they buying?
• Last year, consumers 50 and older spent $87
billion on cars compared with $70 billion by
those under age 50, reports the Consumer
Expenditure Survey from the Bureau of Labor
Statistics. They buy more new cars, spend
more on the cars they buy - and even buy cars
for their kids and grandkids.
What are you doing?
• "This is demographic dynasty," ......"If you
don't have a strategy for making your product
relevant to 50-plus consumers, you will have a
very rough time over the next 20 years."
And just in the event you think they
Oh, what about the AARP?
48 Million Card Carrying,
Dues Paying Members..
My Panel/My People
• Doc Searls….
• Michael Gallelli
• A lovely woman, Robin Raskin, who had to
cancel because of ill health…
What are the questions
that we really should consider?
• If there are 77 Million People in this cohort…
• Is this a single cohesive group?
• What do product people need to understand?
• What about mass customization?
• What about design?
• What about wellness?
Are there other areas to ponder?
• Social health technologies?
• Sensing technologies?
• How are boomers applying their money?
• What would you have them do with their
• And what about social media?
• We have been talking about the US, but what
about the rest of the world?
And now …..
• And thoughts on what the future might look
• Story about my computer
• “Do Over…
• Will anyone in the room, grab
me next year, and say….?”