Posted in on March 14, 2016

Mature Marketing Links of the Week: Money and Generations

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.Impact of Market Crash

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.

Read full report.

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.

Read the article.

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