Baby boomer households represented more than 50% of sales in 98 of 122 consumer packaged goods (CPG) product categories analyzed in a recent study by Nielsen and the Hallmark Channel. That adds up to almost $200 billion in total sales in those categories.
But despite the evident buying power of boomers, many advertisers — intent of wooing loyal lifetime customers — continue to focus their advertising on younger consumers.
Writing in the January issue of Nielsen’s “Consumer Insight” online newsletter, Howard Shimmel, Senior Vice President, Consumer Insights, Nielsen, and Jess D. Aguirre, Jr., Senior Vice President, Research, Hallmark Channel, urge advertisers to rethink that media strategy.
“Advertisers who fail to recognize the economic value of Boomers, and continue to allocate media dollars to younger audiences, will fail to deliver Boomers and capitalize on their spending power today,” Shimmel and Aguirre argue.
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View the latest issue of “Consumer Insight.”