signs of aging, both internally and aesthetically.
Though Boomers—like everyone else—felt financial pain and experienced notable losses during the recession, comparatively they represent
a wealthy group thanks to already established
and long careers, and opportunities to save during more flush eras. Some in this generation
have been forced to work slightly longer than expected, pushing off retirement. At the same time,
many Boomers are active, motivated and less inclined to sit back and relax.
Certainly, they’re motivated to retire, but
that’s not to say they won’t be active and continue to care for themselves and spend money doing
both of those things. Baby Boomers have shown
again and again in the past decade that they
have money to spend on fighting aging. They’re
also living active and healthy lifestyles and demanding products to enhance their choices.
For example, they, too, are likely cutting back
visits to the salon and spa, but they’re not sacrificing image and have bought into at-home hair
care and grooming products, as well as indulgent, luxurious spa-like products for home use.
They want to look good and feel good, and CPG
marketers that hone in on these desires can capture some serious spend with Baby Boomers.
A Bright Future
Overall, SymphonyIRI’s market data, paired with
consumer analytics, point to a very bright future
for both food and beverage and non-food products
that support the ever-growing interest in health
and well-being. Consumers are and will continue
to eat to prevent and manage common ailments,
and they will self-medicate and pamper them-
selves with at-home products, ultimately creating
a health-focused routine and lifestyle.
About the author:
Susan Viamari is editor of SymphonyIRI’s “Times & Trends,”
a monthly research report that provides information and
insights into trends that are shaping the CPG and retail industries. She serves a crucial role in developing, implementing and communicating SymphonyIRI’s thought leadership
research, bringing e;ective strategies and innovative solutions to the CPG and retail industries.
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