Baby Boomers

Size of the Boomer and Senior Markets:

  • 77 million people were born between 1946 and 1964, which is defined as the baby boomer era (U.S. Census).
  • The first baby boomer turned 65 on January 1, 2011.
  • An American turns 50 every 7 seconds—that’s more than 12,500 people every day (U.S. Census).
  • The  senior age group is now, for the first time, the largest in terms of  size and percent of the population in the U.S. This age group grew at a  faster rate than the total population between 2000 and 2010, according  to a 2010 Census brief.
  • More  people were 65 years and over in 2010 than in any previous census.  Between 2000 and 2010, the population 65 years and over increased at a  faster rate (15.1%) than the total U.S population (9.7%).
  • By 2015, those aged 50 and older will represent 45% of the U.S. population (AARP).
  • Baby Boomers make up 35% of the American adult population (Scarborough).
  • By 2030, the 65-plus population will double to about 71.5 million, and by 2050 will grow to 86.7 million people (U.S. Census).
  • In  2050, the number of Americans aged 65 and older is projected to be 88.5  million, more than double its projected population of 40.2 million in  2010.

Wealth of Baby Boomers and Seniors:

  • 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).
  • 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).

Online Habits of Adults 50+:

  • One-third  of the 195.3 million internet users in the U.S., adults aged 50+  represent the Web’s largest constituency (Jupiter Research).
  • Two-thirds of Americans 50+ buy from e-retailers online (Pew).
  • In 2012, baby boomers (47-65) spend 27 hours per week online, 2 hours more per week then Millennials (16-34) at 25 hours per week (WSL/Strategic Retail).
  • 89% of seniors 65+ have personal email and use it regularly (Nielsen).
  • 72% of baby boomers have broadband internet in their homes (ThirdAge and JWT Boom).
  • 36% of adults 50+ own a smartphone (Pew).
  • 44% of smartphone owners age 50+ access the Internet or check email daily from their device (Pew).
  • Adults 45+ account for 34.7% of current tablet users (comScore TabLens).
  • From 2004 – 2009, the number of seniors age 65+ actively using the Internet increased more than 55% (Nielsen).
  • 27.4  million people age 55 and over engaged in social networking with nearly  19 million of those people using Facebook (comScore).
  • Adults 50+ spend an average of $7 billion online annually (SeniorNet).
  • 72% of adults 55-63 and even 47% age 73+ shop online (Forrester).
  • 41% of internet users 50-64 and 27% age 65+ say they watch videos online (Pew).
  • The  Internet is the most important source of information for baby boomers  when they make major market purchases, such as automobiles or appliances  (Zoomerang).
  • 42%  of all travel industry purchases happen online, and adults 50+ account  for 80% of all luxury travel spending (Pew Internet and American Life  Project).
  • 82%  of adults aged 50+ who use the Internet research health and wellness  information online (Pew Internet and American Life Project).
  • The top four online websites for people over 60 are Google, Facebook, Yahoo and YouTube (AARP).
  • 65% of all adult Internet users engage in social media. In 2011, baby boomers increased their usage of social media by 60% (WSL/Strategic Retail).

The Health Conscious Boomer

  • In the next ten years, U.S. baby boomers will increase their annual spending on wellness-based services from approximately $200M to $1 trillion (Paul Zane Pilzer, The Next Trillion).
  • Americans 55+ are the fastest-growing age group among gym members, up more than 266% since 1987 (IBISWorld).
  • 82% of adults aged 50+ who use the Internet research health and wellness information online (Pew and American Life Project).
  • Throughout 2012, more than half of U.S. online consumers used fitness electronics, and more then one-third planned on buying a health-related gadget in 2013 (CEA).