Mele’s Musings

‘Generation Buy’ Fickle Yet Free Spending: TV Land Study

Are we just targeting the wrong consumers?  Why do we obsess over 20 and 30 year olds when the boomers have all of the cash – and they spend it?

Picture: bullnotbull.com

Article excerpt:   Baby Boomers in their 40s and 50s not only are at the peak of their earning potential but also are making the majority of buying decisions for themselves, small children and their elderly parents, according to a recent branding survey conducted by TV Land and consumer researcher OTX. The findings were detailed during a press conference Monday at the National Press Club by TV Land president Larry W. Jones. He was joined by Kim Alexis (pictured), host of TV Land’s original reality series She’s Got The Look and Beverly Johnson, a judge on the same series. Not only are 40- and 50 year-olds spending more on themselves per month than Millennials and Gen Xers but, more interestingly, they are spending twice as much as their younger cohorts on others in their lives. With so many people to shop for, Boomers are “making several multi-generational purchase decisions at once and—contrary to common assumptions—they are far less brand loyal than Millennials and Gen Xers,” according to the survey. TV Land’s “Generation BUY: A Close Look at the Boomer Consumer” study, fielded by OTX, includes input from almost 4,000 adults ages 18-65 nationwide. Commissioned by TV Land, the study provides information on the purchase decisions and brand loyalty of Adults 40-59.
The rest: multichannel.com

Musing:  One very interesting aspect of this article is that boomers are less “brand loyal.”  This is a loaded assertion, however.  Are they less brand loyal, or are they simply willing to try new brands?  Is it additive or is it a replacement?  It’s not clear, but it is interesting that the younger the consumer, the more likely they were to being brand loyal. Not sure why that is, but would love to hear insights.  The other not very shocking piece is that these 40-55 year olds spend a ton of money.  Makes one wonder why our audience targets are so often younger (25-44 seems to be the target of choice) when logic would dictate that this HUGE audience with a lot of money and a willingness to spend should be the target.