generational marketing
Aging boomers dragging marketplace with them
By Chuck Underwood
Cincinnati Business Courier - November 10, 2003
http://cincinnati.bizjournals.com/cincinnati/stories/2003/11/10/smallb3.html
The American youth culture that began with the baby boomers is now ending with the baby boomers. The trend is unmistakable. And irreversible. And like every marketplace shift attached to that enormous generation, its impact is staggering.
It's hard to imagine this if you're under age 60, but America did not begin worshipping youth until the 1950s. In the entire history of our country, age and wisdom had always been more revered than youth, right through World War II. Children were to be "seen and not heard."
Then came the revolutionary intersection of the baby boom and invention of television. G. I. Generation parents, who had suffered through the Depression and war, now wanted to shower their children with love and comfort. The postwar economy was surging. TV arrived, and with it, the awesome power of the commercial. Annette Funicello appeared on the tube wearing her Mouseketeer cap, and the culture swung gleefully toward youth.
More than 79 million boomer babies arrived from 1946 to 1964, and their parents spent generously on them. And then, beginning in the late '60s, all those boomers became parents themselves and spent heavily on their children. And the American marketplace asked itself, "Why pay attention to anyone but youth?" And so, it didn't. Over age 50? You don't count.
But now it ends.
With the aging of the boomers, who are now 39 to 57, the American marketplace is wising up and beginning to reattach itself to this generation: currently with products and services, and soon with TV shows and other advertiser-supported mass media.
What's happening? Two phenomena.
First, boomers possess astonishing purchasing power and they spend their money freely; they are, after all, the instant-gratification generation. Second, and this is the big one, boomers are the first generation that will go through their entire lives with absolutely no brand loyalty.
Boomers are famous for wanting to make the smartest possible buying decision every single time. That means they insist on being open to new products and services and to changing brands the moment another brand offers superior quality and value.
What that means is this: boomers are receptive to advertising. And this changes everything.
The GAP (ad slogan: "For Every Generation") and other apparel chains that once marketed only to younger demographics are now producing products, backed by multi-generational ad campaigns, to include boomers. Ditto with Disney World, New York Life, Wendy's, and many other merchants. The fitness industry, skin and beauty care, healthy foods, leisure travel -- they're all rushing to the boomers, and media coverage of this phenomenon is turning pop culture in the direction of the older generations.
Seven of the top 10 revenue-grossing rock-music concerts in 2002 are boomer acts (Britney Spears was No. 11; Paul McCartney was No. 1). Movies are making big money when they appeal to boomers.
Pepsi's recent TV commercials showed teen idol Britney Spears in a variety of scenes and apparel from the diner days of the '50s and flower-power days of the '60s.
Continue to pursue the kids, sure. But now, we also must follow the money. Follow the boomers. They can be persuaded. They aren't brand-loyal.
Chrysler originally designed its retro car, the P. T. Cruiser, for younger Generation X, but it was boomers who bit.
The fast-food industry, the dating-service industry, collectible-car industry: all are striking it rich when they follow the money of the boomers, right past age 50.
With nutritional and cosmetic advancements, female beauty is now being repositioned in the direction of maturity and experience. As we did B.B. (before boomers), we're again beginning to celebrate the older woman.
And this is the key: the younger Millennial Generation kids (currently birth to age 21) embrace all of this.
Clothing boutiques that target teen girls are now targeting Mom, too. With Millennials, it's now actually cool to go shopping with Mom and buy - and swap - the same funky, hip clothing together. As one girl excitedly said, "I've doubled my wardrobe."
Do you know what age 60 means to today's teen girls? Tina Turner! Buff and sexy and energetic! 57-year-old means model Lauren Hutton, and it means Cher, still mostly naked on stage and without a wrinkle or a roll. A new generation of teens no longer considers age to be connected to physical appearance. The age bias is dying.
College-age Millennials are contacting Mom and Dad everyday on their cell phones, pagers, and instant messaging. And it's no longer just to ask for more money. It's to ask parents for help on a roommate problem, a girlfriend problem, a term paper, or simply to chat: "How was your day, Dad?" Boomer moms and dads are perceived as hip, physically fit, and their kids worship their relationships with them.
In its January 2003 issue, American Demographics, the magazine that quantifies "consumer trends for business leaders," predicted the top 10 trends for the year.
No. 1: Aging boomers and their dramatic impact on the marketplace.
No. 2: Delayed retirement by boomers and its dramatic impact on the workplace.
The American Youth Culture that began with the Boomers is now ending with them.
Underwood is the founder and president of The Generational Imperative, a generational consultancy to companies and organizations nationwide. He can be reached at http://www.genimperative.com and chuck@genimperative.com.
© 2003 American City Business Journals Inc.
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