Last Friday, “Eat, Pray, Love” opened in movie theatres around the nation. It’s likely many a Baby Boomer woman was in the audience, marveling at the tale of self-discovery. Professionals marketing to Baby Boomers and 65+ seniors can discover a few insights into their own mature audiences by considering how we eat, pray and love.
Baby Boomer Spending on Food
* I really appreciate The Bundle’s infographics that illustrate household spending by age. Take a peek at their 2010 report and you’ll see that Baby Boomers (aged 50-65) and Silent Generation (65+) spend more on food and drink than the “coveted” 18-25 year olds – $6,992 and $5,211 respectively. 36-49 year olds are the tops in food and food and drink, averaging $7,487 in 2010 per household.
* Reflecting their lifestage, 35-50 year olds spend the most each year on groceries – $4,322 per Bundle. 50-65 yr old Boomers are in second place, spending an average of $4,001.
* Mature marketing expert Brent Green has called Baby Boomer men the “next marketing frontier,” noting that men are more apt to spend than save (even in a downturn) and more prone to buy national brands at the grocery store.