Study: One approach not suitable for baby boomers

CHICAGO According to the Information Resources Times & Trends Report, “Baby Boomers: One Size Does Not Fit All.” Despite sharing many seemingly formative historic experiences, the baby boomer generation prides itself on individuality and is really quite diverse.

“Market leaders who want to most effectively meet the needs of boomers, some of whom are in their 60s, while others are still in their 40s, must identify the distinct and ever-changing attitudes and behaviors of literally hundreds of micro-segments based on income, geography, shopping trip missions, health and wellness and many other factors,” says IRI consulting and innovation president Thom Blischok.

Despite the great sense of individualism within the baby boomer generation, there are some broad commonalities among baby boomers that are worth noting. According to IRI, approximately two-thirds of boomers will continue to work after retirement, some out of financial necessity and others from an eagerness to remain active. Baby boomers are also more likely to rely heavily on CPG products, such as food, beverages, vitamins and supplements, to sustain high levels of health and vitality.