Monday, April 20, 2009

Big Consumers Brands Chase Boomer Dollars

Show me the money - oops you don't have any but your daddy still does.

A new column today by New York Times advertising columnist Stuart Elliott -who I used to write for years ago when he was at Manhattan Inc. - reminds us that the baby boomers are still spending money. And that big consumer brands know that.

Chrysler, Kraft Foods, L’Oréal, Procter & Gamble and Target are embracing the Geritol Generation's favorite CBS - News, 60 Minutes and CSI among other programming are drawing more ad dollars away from shows aimed at younger viewers. After all, this generation grew up with TV and they still watch it. That's probably why CBS is first in network ratings - everyone else is on Facebook.

Boomers have a lot to offer. Their kids are older, they (OK we) still have some savings and advertisers who chased youth and flagrant spenders are acknowledging once more that this generation isn't dead yet.

Elliott's anecdote is about grandparents (yes they cannot help but spend) but it applies more broadly. When Brian Gordon and his partners started ebeanstalk.com, which sells children’s learning toys online, they expected most of business to come from younger consumers starting families. But a recent customer survey found that up to 40 percent were actually older, mainly grandparents.

“If you’d asked me if 4 out of 10 people would be grandparents, I’d have said, ‘No, that’s not going to happen,’ ” Mr. Gordon said.
Among those aiming more at the older demographic are giants like Chrysler, Kraft Foods, L’Oréal, Procter & Gamble and Target.

Another big benefit of the boomer generation - you don't have to build brand loyalty. They grew up with these brands - and in tough economic times familiar brands are comforting. Even if you sometimes end up buying the generic.

Oh and AARP Magazines ad revenues are not anywhere near as far down as everyone else's.

Here's the link: http://www.nytimes.com/2009/04/20/business/20adcol.html?th&emc=th

No comments:

Post a Comment