Out of everyone in the baby boomers demographic, it seems that grandparents are the individuals that are generally the most stereotyped. Marketers within the past decade have determined that these aging individuals need to have their ‘needs’ met by insurance companies and medical care advertisements while ignoring some of their other needs and interests. Clearly, this is not the appropriate way to market to a demographic that holds the most money and the most influence among consumers throughout the country. However, more often than not, companies are opting to ignore the baby boomer demographic and provide grandparents with the stereotypical marketing ploys.
The most common stereotypes that grandparents in the baby boomer demographic receive is the assumption that they have no concept of how to use technology. Unfortunately, a large mass of marketers have assumed that baby boomers don’t take interest in social media or online marketing. The truth of the matter is that most baby boomers spend more time on the internet than the typical teenager, if not their own grandchildren! They have access to reasonably large sum of money and are known to purchase some of the leading brands and gadgets, assuming that their demographic is even reached.
The value of the baby boomers that are grandparents is that the money that they may not be willing to spend on themselves, they’ll generally be willing to spend on their grandchildren or for other members of the family. They like family vacations, educational products, products that are aimed at providing them with a healthier and easier lifestyle so that they can ‘keep up’ with the younger ones in the family. There’s a lot of untapped potential within the demographic, but marketers overlook it because they’ve assumed that once the baby boomers fell out of the 18 to 49 category, they were instantly too old to market to and became irrelevant.
Some baby boomers are even responsible for taking care of their own grandchildren in the event that something has happened to their own children, leaving the grandchildren without parents. For them, taking care of their grandchildren is like another approach to parenthood, but a little more fun. They have the opportunity to provide their grandchildren with many of the items and experiences that their own children weren’t able to have access to in previous decades, which makes them more likely to be willing to spend money on that new iPad or even some random product that their grandchildren may have mentioned wanting.
It’s becoming increasingly clear that the grandparent portion of the baby boomer group should not be ignored and categorized into people who are inept with technology or in need of life insurance; they are some of the most crucial spenders that are involved with consumerism within our current society. Projections have suggested that this will only continue to increase and become more likely as the next few years pass. Businesses that want to ensure that they appeal to all demographics need to start considering how to reach out to the baby boomers and grandparents of that demographic in order to ensure further success in the next decade.