Numerator: Baby boomers spend $21K at stores annually
Baby boomers’ share of U.S. retail sales is decreasing.
That’s according to new data from Numerator's Generations Hub, which revealed that those born before 1965 account for a third (33.7%) of U.S. sales, a 10 point decrease from just five years ago in 2020. Numerator found that the average baby boomer household spends $21,048 (CPG, general merchandise, and quick-service restaurant spend) annually in stores.
[READ MORE: Numerator: Gen X spends $25K at stores annually]
Baby boomers make around 733 shopping trips per year, and spend an average of $29 per trip. The top retailers for baby boomers are Walmart (17% of spend), Amazon (9%), Costco (5%), Kroger (4%) and Home Depot (3%). More than one-in-four (26%) baby boomers said they rarely or almost never consider switching from their favorite brand.
Numerator noted that baby boomers remain the least multicultural generation, with 77% identifying as White, while 12% identify as Black, 7% as Hispanic, and 2% as Asian. Most baby boomers live in suburban (40%) or rural areas (32%), with fewer in urban centers (28%).
Income levels among the generation skew lower compared to younger generations. Just 21% earn more than $125K annually, while 51% fall into the middle-income range ($40K–$125K) and 28% fall below $40K.
Additional insights from the Numerator Generations Hub include the following:
- The overwhelming majority (92%) of baby boomer households no longer have children at home, and most live in households of two people or fewer (83%).
- When considering choosing apparel, baby boomers care most about comfort (94%), versatility/classic style (68%), and expressing their personal identity/values (55%).
- The majority (80%) of baby boomers find clean living to be important, the highest of any generation. More than half (53%) review nutrition labels more closely, while 51% review product labels more closely, and 43% avoid certain ingredients (e.g., palm oil, high fructose corn syrup).
