Money
Fashion industry, others should target baby boomers
Although the fashion world usually evokes images of young models and hip hangouts, more and more analysts are saying that the industry should instead turn its attention toward baby boomers to help them survive the struggling economy, Reuters reports. It makes sense, too, given that boomers (people born between 1946 and 1964) represent almost a quarter of the entire United States population.
Still, despite the signs that marketing toward older adults is a smart decision, not many fashion designers are doing so. Specifically, some recent fashion trends have emphasized a somewhat less-is-more attitude in terms of covering the body, something that doesn't appeal to boomers. However, there are some who have recognized the changing tide.
"[Designers] are just starting to wake up. It's such a difficult quantum leap for most companies who, since the '60s, have felt that the youth market is setting all the trends," fashion forecaster David Wolfe told the agency. "Many of the trends that are being set are not applicable to an older person's lifestyle."
Not only is marketing to boomers a smart idea because of their sheer numbers, they also have a large disposable income when compared to their contemporaries. As such, it should not come as much of a surprise that other markets, not just fashion, should jump quickly on the trend as well.
Technology is another big market where advertisers should appeal to this expansive generation. According to MediaPost, boomers spend more money on gadgets such as iPads and e-readers than all other age groups. Additionally, advertisers should turn their attention toward Facebook, where boomers are 28.2 percent more likely to click an advertisement than their younger contemporaries. It may pay off, because that age group accounts for 50 percent of discretionary spending power as well as 80 percent of leisure travel.
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