Baby boomers, who spend an average of $45,654 a year, are a large demographic becoming more and more attractive to marketers.
Here's what boomers buy, compared to the general population, as reported in on NorwichBuletin.com:
- Tableware: Older boomers, born before 1956, spend 50 percent more than average on china and silverware.
- Clothing: Older boomers spend 13 percent more than average on women's apparel and 11 percent more on men's.
- Health: Fifty-five to 64 year olds pay 6.9 percent of their income on health care, while younger boomers pay less than 5 percent.
- Vacation lodging: Older boomers spend 23 percent more than average on hotels and vacation homes.
- Insurance: Older boomers spend 20 percent more than average on life insurance and other personal insurance policies.
Copyright 2008, Rita R. Robison, Consumer Specialist