Are you worried about your luxury brand profit earnings for 2013? Did you know that there is one single target audience that could skyrocket profit earnings but are not even being targeted by luxury brands?
Meet the baby boomers! These are the single most influential spenders when it comes to luxurious purchasing. They were born between 1946 and 1964 today make up 29% of the U.S. Population. Baby boomers are between 49 to 67 years old. These are the true big spenders.
Baby boomers have money, tons and tons of it plus they like to spend it on luxury goods. They control generally 67% of the country’s wealth a value of $28 trillion dollars. The hottest baby boomer market is the new FAB 50 Plus!
Madonna for Louis Vuitton
- The 55+ age group controls more than three-fourths of America’s wealth (ICSC).
- 78 million Americans who were 50 or older as of 2001 controlled 67% of the country’s wealth, or $28 trillion (U.S. Census and Federal Reserve).
- Baby Boomers control most of the net worth of American households and they account for 40% of total consumer demand.
- Boomers and seniors have seen a decrease in their median family net worth, however they still have a net worth 3x that younger generations (Economic Policy Institute).
- Boomers’ median household income is 55% greater than post-Boomers and 61% more than pre-Boomers. They have an average annual disposable income of $24,000 (US Government Consumer Expenditure Survey).
- The 50+ have $2.4 trillion in annual income, which accounts for 42% of all after-tax income (U.S. Consumer Expenditure Survey).
- Adults 50 and older own 65% of the aggregate net worth of all U.S. households (U.S. Consumer Expenditure Survey).
If you would like help with launching a luxury PR campaign targeting baby boomers please contact us at email@example.com in confidence.