Are OK Boomers - Media Group Online
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D isagreements, spats and differences of opinion
Boomers
about economic and cultural issues between
the oldest and youngest generations are constants
of the human condition.
Are OK
The recent “OK Boomer” meme and the resulting
derisive tweets are just the latest examples of the
oldest and youngest generations talking past each
other. Undoubtedly, many Boomers would agree
“OK Boomer” is a minor skirmish compared to
with Being the classic “Generation Gap” they experienced
during the 1960s.
Boomers
Despite, these age-old generational
disagreements, Baby Boomers are generally in
a very good place. Even though thousands are
A Special Report from Media Group Online, Inc. retiring daily, they and those who are still working
are more active, healthier and more involved in
social issues than previous generations.
This Special Report from Media Group Online
presents crucial information and insights to help
you and your prospects and clients understand
the generation that has much of life still in front of it
and, therefore, will be a retail-consuming force until
the mid-21st century.
www.mediagrouponlineinc.com pg. 2
Boomers
Are
with Being
OK
Boomers
The New Age of Aging
Until the last half of the 20th century, most people didn’t Although many Baby Boomers are already enjoying or
have the knowledge base and the tools to exceed one’s look forward to a retirement in the sun, almost one-fourth
life expectancy and/or strive for and enjoy an optimal of the employed persons 16 years of age and older
quality of life. were 55 or older, or 37.1 million, during 2019. They still
choose to work because they are at the height of their
The Greatest Generation, or the parents of most Baby profession/career and earning power and still have much
Boomers, was the first to experience some of that quality to contribute.
after World War II and into their retirement years. It’s
generally accepted, however, Baby Boomers were the first Another generally unknown employment status of older
generation to embrace fully the concept, “quality of life.” Americans is significant percentages of them are self-
They realized they could build on the great start most of employed: 17% of those 65–69 and 13% of those 75–79.
their parents provided and experience more satisfaction
and happiness of any previous generation. Although Millennials and Gen Zers are advancing into
their prime earning and spending years, Baby Boomers
Baby Boomers have and continue to contribute and had more than twice the total household wealth of
benefit from the greatest period of global and American Millennials as of April 2019, or 54% and 22%. A 2019 U.S.
economic growth. They have reached, however, that point News & World Report article stated Baby Boomers spend
in time when every previous generation transitioned from $3.2 trillion per year.
being fully engaged to retirement.
For those in marketing and media sales, Baby Boomers
Boomers were the first generation marketers consciously still represent almost as strong a consumer segment as
and aggressively targeted because youth is the image we they did when they were much younger – and advertisers
all crave: the coveted 18–49 demographic. All Boomers who overlook them (and for many years into future) do so
are older than 49, but they still view themselves as viable at their own peril.
members of society and “youthful,” so they are redefining
the concept of age.
www.mediagrouponlineinc.com pg. 3
Boomers
Are
with Being
OK
Boomers
Still Demographically Strong
Although various research sources cite different birth-
year ranges for younger generations, the range for Baby
Baby Boomers’ Martial Status of
Boomers, as the first closely scrutinized generation, is Total Adults 15+, 2019
generally agreed to be 1946 to 1964. During June 2020, Marital Status 55–64 65–74
therefore, the oldest Baby Boomers were 74 and the
youngest 56. Total 41.74 M 31.46 M
Married spouse present 26.88 M 19.98 M
1999 was the year with the most Baby Boomers, or 78.8 Married spouse absent 636,000 429,000
million, and they remained the largest until July 2019
when Millennials surpassed them, or 72.1 million and Widowed 2.09 M 3.78 M
71.6 million, respectively. Divorced 6.87 M 4.70 M
Separated 965,000 461,000
According to US Census Bureau data, the number of
adults 65 and older will increase by 69% during the Never married 4.30 M 2.13 M
2020–2060 period to 94.7 million. During the same period, US Census Bureau, November 2019
the number of adults 85 and older is expected to increase
almost 300% from 6.7 million to 19.0 million. A 2018 AARP survey revealed 76% of adults 50 and older
would prefer to stay in their homes; however, 46% think
Life expectancy among the general population is forecast they will be able to do so while another 13% expect to
to increase by 6 years, from 79.7 for 2017 to 85.6 by continue living in their current community, but in a different
2060. On average, women live longer than men, and will dwelling. With 27% of US adults 60 and older living alone
continue to do so; however, during the 2020–2060 period, and anticipating a longer life and better health, 32% of
men’s life expectancy will increase more than women’s. those 50+ would consider home sharing.
Another important demographic of older adults is their
marital status. According to 2019 US Census Bureau,
adults 55–64 and 65–74 had the largest percentages of
those who were married.
www.mediagrouponlineinc.com pg. 4
Boomers
Are
with Being
OK
Boomers
Feeling Good and
Adults’ Assessment of Their Health,
on the Move by Age Group, 2017
Good health is essential to a longer life and 75 and
Assessment 18–44 45–64 65–74
enjoying the quality of life so important to Baby Older
Boomers. One of the misperception possibly Excellent 37.9% 22.5% 17.7% 12.0%
fueling the “OK Boomer” meme is younger Very good 34.1% 32.3% 31.9% 27.9%
adults think most older adults have a negative
view of their health, which the latest data (2017) Good 22.2% 29.2% 32.3% 33.2%
from the Centers for Disease Control and Fair 4.9% 12.1% 14.2% 19.9%
Prevention (CDC) doesn’t support. “Positive” subtotal 99.1% 96.1% 96.1% 93.0%
In fact, the 2017 National Health Interview Poor 1.0% 3.9% 4.0% 7.0%
Survey found a vast majority of adults 45–64, Centers for Disease Control and Prevention 2017
65–74 and 75 and older had a positive attitude
about their health, and not much less than Of course, the perception of health is different for different age
adults 18–44. groups. For the youngest adults, daily strenuous workouts, jogging
or cycling and a lack of any chronic conditions affect their health
assessment. For older adults, despite 60% with two or more
chronic conditions, a positive health attitude is based more on a
good energy level, emotional well-being, close social relationships
and being as active as possible.
Virtually every health resource/agency recommends older adults
participate in regular physical activity, as it can help to reduce
chronic conditions, such as diabetes, arthritis and heart disease.
Although physical/health conditions may limit the type and amount
of physical activity for seniors, the CDC recommends adults 65
or older who are generally fit to participate in at least 150 minutes
weekly in moderate-intensity aerobic activity and at least two days
a week in muscle-strengthening activity.
Baby Boomers’ Physical Activity
Participation Categories, 2018
Physical Activity Percent
Fitness sports 58.9%
Outdoor sports 39.6%
Individual sports 23.2%
Racquet sports 5.6%
Water sports 7.3%
Team sports 4.1%
Winter sports 4.0%
Physical Activity Council, 2019
www.mediagrouponlineinc.com pg. 5
Boomers
Are
with Being
OK
Boomers
The Senior-Income According to US Census Bureau data, 35% of Americans
older than 65 were defined as “poor” during 1959. With
Spectrum the enormous growth in the US economy, more liberal
Social Security benefits, employee retirement programs
and a larger rate of savings during the interim, just 9.2%
The traditional, and somewhat misunderstood, view is of seniors were considered poor by 2017.
a large percentage of seniors live at, near or below the
federal poverty level. It is a rather complicated calculation 2018 Census Bureau data indicated the median
because it’s based on household size and eligibility household income for adults 55–64 was $68,951, adults
for various government programs. For example, for a 65–74 $52,465 and 75 and older $34,925. Clearly, many
household of one, which is the case for many seniors, of those in the younger age range are still working while
100% of the federal poverty level is $12,760 of annual those in the older age range are not and must rely on
income while a household of two is $17,240. savings, investments and Social Security.
Annual Household Income for Adults 55+, Even with a median or
by Age Group, 2019 larger income, seniors are
more likely to pay more for
Household Adults 55–64 Adults 65–74 Adults 75+ health insurance premiums
Income and other healthcare costs
Percent Index Percent Index Percent Index not covered by insurance.
$15,000–$24,999 9.7% 99 10.3% 105 11.3% 115 Plus, from 1999 to 2019,
debt for adults 60–69 and
$25,000–$34,999 10.1% 92 12.5% 114 14.8% 135
70 and older increased
$35,000–$49,999 15.3% 105 16.8% 116 16.5% 114 the most, or 471% and
$50,000–$74,999 18.4% 97 23.2% 122 21.4% 113 543%, respectively. This is
another trend suggesting
$75,000–$99,999 15.5% 110 15.0% 106 12.3% 87
many older Americans
$100,000–$149,999 13.5% 110 11.8% 96 10.8% 88 have to assume more
$150,000–$199,999 6.0% 123 3.3% 67 4.3% 87 debt to maintain any kind
$200,000–$299,999 2.9% 118 1.6% 64 2.2% 89 of healthy, active and
meaningful lifestyle.
Based on The Media Audit’s September 2019 Aggregate Survey (57 US markets, more than 157 million adults)
www.mediagrouponlineinc.com pg. 6
Boomers
Are
with Being
OK
Boomers
The Baby Boomer Consumer As Baby Boomers age and Gen Zers and
Millennials enter their peak earning years,
these numbers will definitely change. In fact,
Arguably, Baby Boomers were the first modern “consumer” of the 11 industries, which the Epsilon report
generation, having enjoyed the unprecedented economic growth compared by generation, Services was the
following World War II. It’s no surprise, therefore, they spend more only category in which Baby Boomers spent
annually than all other generations, and by quite a margin, and spend the most, or $245 in average annual dollars,
more per transaction. but tied with Millennials. Gen Zers were
spending the most in 8 of the 11 industries,
The Generations’ Spending Habits, 2018–2019 including Automotive, Entertainment,
Annual Avg. Total Avg. Spend/ Restaurants, Retail and Travel.
Generation
Total Transactions Transaction
The Epsilon report also focuses on the retail
Gen Z $8.2 B 358 $58.30 sector specifically, again comparing each
Millennials $322.5 B 330 $54.91 generation’s average annual spending in 8
Gen X $357 B 306 $60.36 categories. Although Baby Boomers didn’t
spend the most in any of the categories,
Baby Boomers $548.1 B 269 $61.69 they certainly spent plenty.
Silents $162.9 B 202 $60.38
Epsilon, July 2019
The Generations’ Retail Spending Habits,
Epsilon also compared by Selected Categories, 2018–2019
generations in the travel Retail Category Gen Z Millennials Gen X Baby Boomers Silents
category, in which older
Apparel $1,267 $1,051 $1,103 $934 $722
Americans have always
traditionally spent Department stores $1,237 $1,061 $1,149 $1,106 $876
the most. That trend Discount stores $206 $189 $200 $198 $181
continues, with Silents
Electronics $1,032 $884 $967 $845 $697
spending the most in 7
travel sub-categories, Home improvements $1,996 $1,849 $1,853 $1,841 $1,334
or $9,865, and Baby Mass merchandiser $1,883 $1,787 $1,762 $1,557 $1,316
Boomers a strong
Plus size $349 $339 $359 $331 $299
second at $9,247.
Warehouse clubs $2,133 $1,895 $2,145 $2,039 $1,804
Epsilon, July 2019
www.mediagrouponlineinc.com pg. 7
Boomers
Are OK
with Being
Boomers
Making Wise Choices
Comparison of Generations’
During the Pandemic Stockpiling of Groceries,
If wisdom comes with age, then Baby Boomers and all February–March 2020
older adults were compelled to make wise choices once Feb. March %
Generation
the coronavirus created a pandemic. Most importantly, 28th 17th Change
all older adults were one of the most vulnerable groups Gen Z 24% 49% +104%
to contract COVID-19, especially those with underlying
medical conditions. Millennials 30% 47% +57%
Gen X 13% 43% +231%
Suddenly, older Americans had to remain home more than Baby Boomers 10% 34% +240%
younger Americans, a wise choice that should continue,
First Insight, March 2020
and compelled many less-than-tech-savvy Baby Boomers
to learn how to buy online, especially groceries.
The National Retail Federation (NRF) published
convincing data during early-June 2020 revealing the
According to March 2020 data from First Insight, of the
significant increases in Boomers’ online shopping in
4 generations studied, Baby Boomers had the smallest
various retail categories.
percentages of all consumers who stockpiled groceries,
but the rate of change from February 28th to March 17th
was the largest.
Baby Boomers’ Purchasing Patterns Before
and During the Pandemic for Selected Retail
Categories, March–May 2020
Pre- During
Retail Category
Pandemic Pandemic
Book, music, movies and video games 29% 43%
Pet supplies or accessories 14% 30%
Toys 11% 26%
Clothing or clothing accessories 16% 23%
Personal care and beauty 11% 21%
National Retail Federation, June 2020
Despite stay-at-home recommendations for older Americans, Baby Boomers took full
advantage of BOPIS (buy online pick-up in store) services, with 58% telling NRF they
picked up an order at a store register, 30% used curbside pickup and just 20% had the
order delivered to the trunk of their car.
Interestingly, the top reason Baby Boomers said they were using BOPIS services was “to
avoid paying for shipping,” at 62%, which doesn’t relate to the pandemic emergency. The
only reason that did, and was #2 on the list at 35%, was “because of social distancing.”
Another wise choice was the 27% of Baby Boomers who said they had used a delivery
service (Amazon, Shipt or Instacart) during the past 3 months and the 61% who said they
were using them more.
www.mediagrouponlineinc.com pg. 8
Boomers
Are
with Being
OK
Boomers
Increasingly Adults 50+ Technology Adoption of
Selected Devices, 2017 vs. 2019
Comfortable with Device 2017 2019
Technology Smartphone 70% 77%
Tablet 43% 47%
An event such as the pandemic causes rapid,
unexpected and even beneficial changes, without losing Wearables 13% 17%
sight of the lives lost and its detrimental effect on the Home assistant 7% 17%
general economy and personal finances. Smart-home technology N/A 10%
AARP, December 2019
As detailed on page 7, many Baby Boomers found it
necessary to increase their online shopping, which
June 2020 eMarketer research also supports how quickly
resulted in them using technologies and devices they may
older Americans (45+) have turned to online shopping
have avoided pre-pandemic.
during the pandemic. It forecasted 204 million Americans
14 years of age and older will buy online during 2020, and
It is likely many of them will continue, or even increase,
67% of them will be 45+, a 5.8% increase, or 5 million new
their online shopping and reliance on BOPIS services,
online shoppers 45+.
especially among those who bought online for the first
time. They’ve experienced the convenience and realize
In their pursuit of the “golden” 18–49 age group,
how valuable the online channel is for them as they age.
marketers are making a fatal error, spending 50% of
their budgets on Millennials and just 10% on Boomers,
Extensive research from AARP and presented in its
although they still control 70% of all disposable income –
2020 Tech and the 50+ Survey (December 2019) clearly
follow the money!
reveals older Americans are increasingly comfortable
with technology. The survey found older Americans
Although older adults remain the largest share of
are adopting technologies at almost the same rate as
traditional TV viewers, they are also attracted to digital
younger adults – and both “older” technologies, such
channels, and in ever increasing numbers. To regain
as smartphones, and “newer” technologies, such as
revenues and market share, local retailers/advertisers
wearables and smart speakers.
can’t overlook Baby Boomers.
Boomers are OK with being Boomers because, first,
they don’t have much choice, but also because they are
now fully embracing the digital age just as they have
embraced other major social, cultural and economic
changes throughout their lives.
Sources: Vox Website, 6/20; Media Village Website, 6/20; The National
Bureau of Economic Research Website, 6/20; Marketing Charts
Website, 6/20; The Media Audit Website, 6/20; MediaPost Website,
6/20; eMarketer Website, 6/20; Pew Research Center Website, 6/20;
Population Reference Bureau Website, 6/20; US Census Bureau
Website, 6/20; AARP Website, 6/20; Kaiser Health News Website, 6/20;
Centers for Disease Control and Prevention Website, 6/20; Physical
Activity Council Website, 6/20; CNBC Website, 6/20; The Brookings
Institute Website, 6/20; Axios Website, 6/20; iHealth Agents Website,
6/20; Epsilon Website, 6/20; First Insight Website, 6/20; National Retail
Federation Website, 6/20.
Prepared: June 2020
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