FLORIDA BOOMER LIFESTYLE 2010 CONFERENCE
(Re) Introducing Florida Boomers:
A Fresh and Surprising Look at the Consumers We Thought We Knew
(but really didn’t)
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FLORIDA BOOMER LIFESTYLE 2010 CONFERENCE
Baby Boomers by the numbers
2674
United States304,059,724
Boomers: 78,058,246BoomersAll other
25.774.3
Florida18,182,321
Boomers: 4,672,856
Boomers All other
26.573.5
Tampa Bay MSA2,712,042
Boomers: 718,691
Boomers All otherSource: United States Census Bureau and its website.
FLORIDA BOOMER LIFESTYLE 2010 CONFERENCE
Background and Methodology• Plenty of information about Boomers nationally• Goal: take the pulse of Florida boomers• Survey dates: March 19 to 23, 2010• Specific to:
– Purchasing habits, consumer behavior and influence– Optimism/Pessimism and Life outlook– Health and wellness– Receptivity to marketing messages
• Scientific JettPoll™ of 444 Florida boomers – 45-54 (49%) -men (52%)– 55-64 (51%) -women (48%)
• Also balanced by region• Precision is +/- 4.7% at the 95% confidence level
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
The past (five) years have not been easy…
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
39.0%33.6%
15.0%
7.0% 5.0%
% of Florida boomers who report…
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Recession has profoundly impacted personal finances, lifestyles but Florida boomers are staying in FL
More careful w
/disc
retionary $
Made changes in
finances
Made lifesty
le changes
Work th
rough re
tirement
Florida w
ill bounce
back
Optimistic a
bout finance
s/retirement
Start own busin
ess
Plan to sw
itch ca
reers
Plan to st
ay in Florid
a
FL allo
ws lifesty
le advantages0%
20%
40%
60%
80%
100%83%
68% 63%
48% 44%36%
30%19%
74% 71%
% Agree
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Florida boomers report troubled finances but high quality of life
Personal health
Finances Quality of life Career0%
20%
40%
60%
80%
100%
5.921.7
7.6
17.6
26.2
18.5 15.7
23.7
22.1
26.2 29.6
42
24.8
37.935.4
10.8 5.214.2 11.7
ExcellentGoodAverageFairPoor
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Among those who are employed (N=223)
53%
48%
52%47%
24% 23%
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
FL Boomers still represent formidable spending power
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Grocerie
s
Clothing
Software
and m
edia
Electr
onics
Home improve
ment
Health
insu
rance
Vacati
ons
Enter
tainmen
t
Furnitu
re
Finan
cial se
rvice
sCars
Continuing ed
0%
20%
40%
60%
80%
100%98%
86%
67%61% 58% 58% 57% 55%
49% 48% 47%
14%
Bought/past 12 months
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Florida boomers: where discretionary health and wellness $ are spent
Vitamins
Organics
Diet books
Exercise
videosGym
Golf
Altern
ative medici
neYoga
Cosmetic s
urgery0%
10%
20%
30%
40%
50%
60%
70%
80%72%
37%
25% 23%
11% 9% 7% 7% 5%
27%
17% 14%12% 9%
5% 6% 7% 4%
15%
7% 5% 5% 4%
Bought Intend Someone else8
FLORIDA BOOMER LIFESTYLE 2010 COFERENCEAnd their top priorities in life….
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
The Boomer Home in 2010: A Multi- Generational Boarding House
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63% have an adult
child living with
them
Discretionary income,
marriage, travel and
dining budgets are all strained
71% report it’s harder to
achieve their personal goals
70% blame the economy
Source: MediaPost’s Engage: Boomers 3-1-2010.
13% of female boomers have live-in parents
or in-laws
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Florida boomers and ‘full nest’ syndrome
Partner/s
pouse
A child
<18
Adult child
Parent o
r in-la
w
Other fa
mily m
emberOth
er
Live al
one0%
20%
40%
60%
80%
65.0%
20.0% 18%
6%4.0% 4.0%
20.0%
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Result? An overtaxed innkeeper with “full nest syndrome” who thinks “I didn’t sign up for this.”
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
How can marketers help the overtaxed “innkeeper” boomer moms?
1. Offer solutions• Food preparation• Household cleaning• Legal services• Financial planning
2. Help her get away• Affordable Hotels• Day trips• Day-spas• Colleges for continuing
education• Chocolate and other
affordable indulgences
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The new “full nest” will be with us for a while and the companies who win over this Boomer mom do business with her first, then her adult children, and eventually their grand children and parents.
Source: MediaPost’s Engage: Boomers 3-1-2010.
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
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Godiva Chocolate Rewards hits sweet spot
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Godiva’s ‘Sweet 16’
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Advertising receptivity• What’s important to Florida boomers when it
comes to advertising messages targeting them?
• Case Study: advertising that missed the mark
• Spot on boomer advertising– Apple
• Boomers and social media
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
The boomer brand promise: integrity, positive interactions, innovation
Acts w
ith in
tegrity
Gives you a positi
ve feelin
g
Innovative products
/solutions
Recognize
s diversi
ty
Solid hist
ory
Reflects perso
nal belie
fs
Uses appealin
g visuals
Avoids unfair s
tereotypes
Connects emotionally
Reminds of y
our youth
In touch
with
younger generations
Celebrity endorse
d0%
20%
40%
60%
80%
100%
86% 82% 77% 76% 72% 71%65% 63%
51%
34% 33%23%
% Important
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
A boomer ad that missed the boat…and why…
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Just for Men Hair Color
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Who does a good job marketing to boomers?
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FLORIDA BOOMER LIFESTYLE 2010 CONFERENCE
Spot on boomer advertising
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Apple’s “First Steps”
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Boomers and social media
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Social Media Participation By Generation
2007 2008 2009
Millennials (14-26) 71% 76% 77%
Generation X (27-43) 51% 57% 61%
Boomers (44-62) 30% 31% 46%
Matures (63-75) 10% 14% 36%
Total (14-75) 45% 48% 57%
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US Internet users who currently maintain a social networking site profile.
• 85% of younger Boomers check into social media sites at least once a week or more• 73% of older Boomers check into social media sites at least once a week or more
Source: MediaPost’s Engage: Boomers 2-8-2010.
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Top Social Media Sites Among Boomers
Digg
MyLife
Classmates
MySpace
0 5000 10000 15000 20000 25000
20082009
25
+106%
-40%
-
-8%
+714%
-
-
Source: MediaPost’s Engage: Boomers 2-8-2010.
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Social media implications for marketers• Include social media in boomer marketing plans• Don’t segregate by age• Create “share worthy” content• Include multi-media content: video, audio
graphics• Don’t replace traditional media. Boomers are still
spending significant time with “old media”, specifically:– TV– Newspapers– Magazines
26Source: MediaPost’s Engage: Boomers 2-8-2010.
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Florida boomers…in summary• Is it safe to come out?
• Florida boomers are mixed on being bullish vs. bearish on Florida’s ability to bounce back
• But…– 74% plan to stay in Florida– 71% claim FL allows unique lifestyle
advantages– Poor finances ≠ poor quality of life
• And boomers are still spending money
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
In conclusion: Lessons for marketers
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Lessons for marketers• Take another look at the nation’s largest population
segment; they’re not going away• Florida boomers value integrity, innovation and advertising
that makes them feel positive when using their products and services (Apple)
• Avoid reminding them of their youth, making them feel in touch with younger generations
• Avoid reminding them of their age. If you must, make them feel empowered. Boomers are redefining aging
• Avoid prematurely categorizing them (AARP, The Scooter Store, retirement, funeral services, etc. )
• By all accounts, avoid stereotypes• Pre-test your campaigns with actual boomers—either on
your staff or via consumer research
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FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Lessons for marketers
• The Great Recession: low prices are now #1 driver of loyalty—vs. customer service in 2008*
• Need to understand how the role of the brand has changed
• This too shall pass…but will you be ready for the new boomer consumer?
30*Source: Retail Customer Experience.com 4/2/2010
FLORIDA BOOMER LIFESTYLE 2010 COFERENCE
Conference Special: BoomerBus Survey
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Exclusive offer to 2010 attendees Opportunity to reach 4.6 million FL
boomers We will poll 1,000+ Boomers Add custom questions Cost effective, efficient, actionable
Please stop by our booth for more info
Or e-mail us:[email protected]
FLORIDA BOOMER LIFESTYLE 2010 CONFERENCE
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Thank You!
Please visit our booth in the exhibitor hall!
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