Monday, November 22, 2010
Advertising Demographics
For years, the target demographcs for radio, television, and print advertising has been 25-54, skewing to the lower end of that target. Hopefully, with millions of baby-boomers retiring (I'm one of them), that trend will change to a more realistic 45-62. The reason is simple. At the low end, you're coming close to the pinacle of your career both professionally and economically. You have to replace your car every 2 years or model change, whichever comes first to keep up with your neighbors. Same goes with houses and furnishings. Then when you get close to 62 (or 65) you have that last fling, new cars, new furniture, replacing appliances, etc as a last hurrah before going on the government dole for Social Security. A vast majority of those who retire at 62 will actually "earn more over their remaining lifetime from their Social Security than those who retire at 65. Plus, your health is hopefully better at 62, and as you get older, good health is worth far more than money. Of course, when you retire you don't need many of the things that you need during your working years. (daily lunches good and bad, a closet full of the latest fashions, no replacing the alarm clock) In short, we old farts spend a ton of money as we approach retirement. I guarantee I've spent more disposable income this year,(minus overpriced designer clothes for my better half which she wouldn't buy anyway unless she had a 30 percent off coupon from Kohl's and it was marked down for clearance) than any 3 25 year olds. The bottom line is time can be your best friend or your worst enemy. So Boomers, spend like crazy and then enjoy a healthy, rewarding retirement.
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