26 February 2007

Barron's "Geezer Power"

----- Original Message -----
From: *********
To: nyrenagency@
Sent: Saturday, February 24, 2007 8:06 AM
Subject: Boomer cover story in Barron's mag this week, fyi


I came across your blog and thought I’d send an fyi re: this week’s cover story in Barron’s magazine.

“The Last Laugh” (alternate headline: “Geezer Power”) describes how “for years, 18-to-49-year-olds have been marketers’ darlings. But an historic shift in spending power will force a change…” and firms like Estee Lauder, Starwood, Walgreen, Whole Foods will benefit.

We made the article a free feature this week, so sites and bloggers can link to it and discuss. URL and excerpts are below.

PR Director, Barron’s

Barron’s Magazine cover story, 2/26 issue: The Last Laugh


...Every eight seconds, an American turns 50. Last year, the first boomers -- members of the generation born between 1946 and 1964 -- turned 60. That's likely to send consumer and investment dollars flooding to a number of companies…Estee Lauder, Starwood, Walgreen, Whole Foods and other firms will benefit.

The mighty AARP, which dropped the word "retired" from its name a few years ago and became simply an acronym, now has 38 million members -- and expects that number to hit 50 million in the next five years. "This is a pivotal moment," says Bill Novelli, 65, the group's Washington, D.C.-based chief. "All these boomers are coming into their mature years, and have more longevity than ever.

That's apparently news to some people in the advertising, entertainment and media worlds… Says John Kottmann, director of strategic planning for McCann Erickson: "Twenty-five to 54 is still a very traditional market for many products. Media really lives and dies based on its appeal to 18-to-34-year-olds, and, increasingly, younger [age groups]." On average, a prime-time TV show that caters to a 35-to-49-year-old audience can get 30% more per advertising minute than one that caters to people 55 and above.

Good to see that Barron’s is on top of all this. However, I don’t have much to ‘discuss’ about it. There’s really nothing new here. I’ve been writing about this subject for years – in articles, my book (the publishers sent the updated 2nd Edition paperback to the printers on Friday – so it should be out in a month), this blog. Others blogging and writing about marketing and advertising to this demographic include Brent Green, Matt Thornhill, David Wolfe, Dick Stroud, Kevin Lavery, and Mary Furlong.

I'm guessing more than a few of the above will roll their eyes at the tired, insulting graphic and lede:
The aging baby-boom generation, which bared it all at Woodstock, plans to live it up -- and has the cash to do it. Pulte, Walgreen, AMN Health and other firms will benefit. Marketers, mend thy ways.

Does it look familiar?

Typical, ignorant nonsense. Read every other post of mine to dispel this myth.

Nowadays many of us write about how to reach Baby Boomers with marketing and advertising. It’s already a given that companies should be targeting this demo.

But the article is worth a read. At least it's nice to have Barron’s catch up with validate what we’ve been saying all these years.

1 comment:

  1. Chuck,

    The Barron's cover pretty much sums up Madison Avenue and the mainstream media's perception of the aging process. Sad. Very sad.


    Tom Mann
    The Erickson Tribune


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