In This Article
- Exhibit 1: The US baby boom generation will become the largest and wealthiest over-50 consumer group in US history.
- Exhibit 2: Boomers’ disposable income and consumption will be roughly 40 percent more than those of the previous generation.
- Exhibit 3: Nearly three-quarters of the boomers are at financial risk or are concerned about their future.
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In less than a decade, all of the baby boomers will be 51 to 70 years old. This generation’s size and tendency to make new rules have created business opportunities since child boomers bought hula hoops in the 1950s. Now it’s time for businesses to prepare for the changing needs of the older boomers, who are about to become the largest and wealthiest over-50 consumer group in US history. Boomers will account for roughly 40 percent of US spending by 2015 and for a disproportionate share of the growth and consumption in industries ranging from consumer electronics and clothing to home furnishings, restaurants, and, of course, health care (Exhibit 1).
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