Happy Monday! This week our mature marketing stories that drove the greatest interest had a similar theme – Money! Be sure to share your insights and comments on these stories below in our comment section. Have a great week.
MOST SHARED: Boomers and Gen Xers are still reeling from the impact of the 2008 market crash in a number of ways according to a recent study. In fact, 2/3 note that they feel the impact in all areas of their life – work, play and savings.
The study surveyed 1,000 Boomers and 1,000 Gen Xers, asking 13 questions related to their perceptions of life post 2008 market crash. The survey identified a sub-set of respondents that it dubbed “post-crash skeptics.” This group, the report said, suffer the largest psychological impact on how they view financial institutions (and finances) in general.
“An overwhelming 93% of post-crash skeptics – which includes a cross-section of Gen Xers and boomers who experienced six or more major effects of the crash – said the 2008 crash still haunts them today. Accordingly, more than nine in 10 (93%) believe that the traditional definition of retirement is now a ‘romantic fantasy of the past’ (versus 84% of the total respondents).”
For marketers, addressing this very real pain and fear is important when positioning why prospects should take a risk on your organization or new home.
MOST CLICKED: Life stage changes equal growth (and money). Spending by Millennials and Boomers is driving much of this, according to a recent report by The NPD Group.
In fact, 2015 spending by these two groups indicate that both are going through significant life stage changes. Boomers were responsible for 61% of non-electric home items and 66% of textile purchases in 2015.
“The Millennials are starting homes of their own and Boomers are creating a new type of home for themselves as they become empty-nesters and enter retirement.”
Other high-dollar spends included personal health and wellness (take note senior living marketers), with Millennials reportedly having a “higher awareness” of their wellness and boomers beginning to refine their focus on their wellness as they age.