Baby boomers represent a huge % of every ones target market, but in the retirement sector they are about to become the market! Baby boomers are generally classified as people born between 1946 to 1964. Understanding what boomers are doing now and will be doing in the near future is fundamental to the success of everyone involved in the retirement or aged care sector as they are the future of the industry.
Focalyst, a market research consultancy that specialises on understanding Boomers and Matures, has recently published a study breaking Boomers down into 3 segments and analyising their purchasing behaviour. It is interesting reading and takes into account the impact of the ongoing Financial Crisis and the impact on Boomer behaviour. One outcome, which perhaps has a short term negative impact for the development and aged care sector, is that Boomers may have to delay retirement to make up for the losses arising from the crisis.
You can see the full report on the Focalyst site at www. focalyst.com
The company also has a interesting interview on NBC that provides a really good insight into mis-conceptions on Boomers. It is well worth 6 minutes of any property developers time to watch this.
You can see the video here – http://video.aol.com/video-detail/today-show-top-10-baby-boomer-myths/736032725