(Re) Introducing Florida Boomers: A Fresh and Surprising Look at the Consumers We Thought We Knew

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)

1


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.


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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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

5


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%


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 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….


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 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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Result? An overtaxed innkeeper with “full nest syndrome” who thinks “I didn’t sign up for this.”

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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.


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Godiva Chocolate Rewards hits sweet spot


Godiva’s ‘Sweet 16’

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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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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

17


A boomer ad that missed the boat…and why…


Just for Men Hair Color


Just for Men Hair Color


Who does a good job marketing to boomers?

21


Spot on boomer advertising


Apple’s “First Steps”

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Boomers and social media

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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



Top Social Media Sites Among Boomers

Digg

MyLife

Twitter

Classmates

LinkedIn

MySpace

Facebook

0 5000 10000 15000 20000 25000

20082009

26

+106%

-40%

-

-8%

+714%

-

-



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

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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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In conclusion: Lessons for marketers

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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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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?

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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]

mailto:[email protected]


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Thank You!

Please visit our booth in the exhibitor hall!

Documents

(Re) Introducing Florida Boomers: A Fresh and Surprising Look at the Consumers We Thought We Knew