Upscale marketers shouldn’t ignore Baby Boomers, the massive segment of the population that is “even more valuable and affluent” than those coveted Millennials, argues the Shullman Research Center in a new report detailing the wealth and financial outlook of Baby Boomers. Compared to their share of the adult population, Baby Boomers command an above-average share of total net worth and total income dollars. What’s more, “Upscale” Baby Boomers are looking to spend on luxury products.
“Upscale” Baby Boomers refers to those who either have a personal net worth of at least $1 million or who live in a household with income of at least $250,000. Upscale Baby Boomers number about 9 million, or roughly 12% of all Baby Boomers adults (about 75 million). Read the rest at MarketingCharts.