Baby boomers are beginning to retire from the U.S. workforce, but according to Nielsen, their buying power remains strong.
Households with baby boomer members — born between 1946 and 1964 — account for nearly $230 billion in sales of consumer packaged goods (CPG) products and represent 55% of total CPG sales, a new study by Nielsen and Hallmark Channel reports.
The research, which examined the CPG spending power and brand loyalty of baby boomer households, found that baby boomer households’ share of sales is 5 points higher than their share of population, according to Nielsen and Hallmark.
Nielsen and Hallmark also tracked baby boomer purchases of over 6,500 brands measured by Nielsen’s Homescan consumer panel that have over 1% US penetration. Of these brands, Baby boomers account for over 50% of sales for 72% of those brands.
The research for Nielsen and Hallmark’s joint study was conducted via the NielsenConnections Brand Target Audience products, which combine Nielsen’s Homescan consumer panel with Nielsen’s national television sample and its Nielsen Online Internet sample.
Hallmark Channel is the first cable television network to license the NielsenConnections Brand Target Audience products.
View the full press release.