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Published by: Mintel International Group Ltd.
Published: Oct. 1, 2004 - 88 Pages
Table of Contents
INTRODUCTION AND ABBREVIATIONS
Introduction
Other Relevant Reports
Definition
Abbreviations & Terms
Abbreviations
Terms
EXECUTIVE SUMMARY
Boomers are largest generation
More diverse than their elders
Most Boomers are married-without children
Homeownership is the norm
More than four out of five Boomers are in the labor force
Boomer have higher than average expenditures
Housing expenditures account for one-third of Boomers' budgets
Boomers spent more on used cars
Larger households require larger food budgets
Older Boomers spent more at full-service restaurants
Health care is not yet a pressing need
Boomers are still a strong market for entertainment
Women's clothing is the largest apparel expenditure
Older Boomers spent the most on college costs
DEMOGRAPHICS OF BABY BOOMERS
Population
Graph 1: Number of births in the U.S. from 1909 to 2002
Figure 1: U.S. population by generation, 2004
Figure 2: Projections of the U.S. population by age, 2004 and 2010
Figure 3: U.S. population aged 35 to 54, by age and gender, 2004
Race and Hispanic Origin
Figure 4: U.S. population by age, race, and Hispanic origin, 2004
Figure 5: Population aged 35 to 54 by age, race, and Hispanic origin, 2004
Marital Status
Figure 6: Marital status of people aged 35 to 54 by age, 2002
Households
Figure 7: U.S. households, by age of householder, 2003
Figure 8: Households headed by people aged 35 to 54, by presence of children and age of householder, 2002
Homeownership
Figure 9: Homeownership rates, by age of householder, 2003
Employment
Figure 10: Labor force participation, by age, 2003
Figure 11: Percent of husbands and wives in the labor force, by age of reference person, 2003
Income
Figure 12: Median household income by age of householder, 2003
SPENDING PATTERNS OF BABY BOOMERS
OVERVIEW
Figure 13: Number and percent distribution of consumer units, by age, 2002
Figure 14: Average expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 2: Average expenditures by all CUs and by CUs headed by people aged 35 to 54, 2002
Figure 15: Average expenditures of CUs headed by people aged 35 to 54, 1992 and 2002
Figure 16: Indexed expenditures by CUs headed by people aged 35 to 54, by age, 2002
Figure 17: Distribution of expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 18: Average per capita expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 19: Share of total expenditures accounted for by CUs headed by people aged 35 to 54, by age, 2002
HOUSING EXPENDITURES
Figure 20: Average housing expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 3: Selected average housing expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 21: Indexed housing expenditures by CUs headed by people aged 35 to 54, by age, 2002
Figure 22: Average per capita housing expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 23: Share of total housing expenditures accounted for by CUs headed by people aged 35 to 54, by age, 2002
TRANSPORTATION EXPENDITURES
Figure 24: Average transportation expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 4: Selected average transportation expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 25: Indexed transportation expenditures by CUs headed by people aged 35 to 54, by age, 2002
Figure 26: Average per capita transportation expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 27: Average per vehicle transportation expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 28: Share of total transportation expenditures accounted for by CUs headed by people aged 35 to 54, by age, 2002
FOOD AND BEVERAGE EXPENDITURES
Food and beverages at home
Figure 29: Average expenditures for food and beverages at home by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 5: Selected expenditures for food and beverages at home by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 30: Indexed expenditures for food and beverages at home by CUs headed by people aged 35 to 54, by age, 2002
Figure 31: Average per capita expenditures for food and beverages at home by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 32: Share of total expenditures for food and beverages at home accounted for by CUs headed by people aged 35 to 54, by age, 2002
Food and beverages away from home
Figure 33: Average expenditures for food and beverages away from home by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 6: Selected average expenditures for food and beverages away from home by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 34: Indexed expenditures for food and beverages away from home by CUs headed by people aged 35 to 54, by age, 2002
Figure 35: Average per capita expenditures for food and beverages away from home by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 36: Share of total expenditures for food and beverages away from home accounted for by CUs headed by people aged 35 to 54, by age, 2002
HEALTH CARE EXPENDITURES
Figure 37: Average health care expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 7: Selected average health care expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 38: Indexed health care expenditures by CUs headed by people aged 35 to 54, by age, 2002
Figure 39: Average per capita expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 40: Share of total health care expenditures accounted for by CUs headed by people aged 35 to 54, by age, 2002
ENTERTAINMENT EXPENDITURES
Figure 41: Average entertainment expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 8: Selected average entertainment expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 42: Indexed entertainment expenditures by CUs headed by people aged 35 to 54, by age, 2002
Figure 43: Average per capita entertainment expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 44: Share of total entertainment expenditures accounted for by CUs headed by people aged 35 to 54, by age, 2002
APPAREL EXPENDITURES
Figure 45: Average apparel expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 9 Selected average apparel expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 46: Indexed apparel expenditures by CUs headed by people aged 35 to 54, by age, 2002
Figure 47: Average per capita apparel expenditures by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 48: Share of total apparel expenditures accounted for by CUs headed by people aged 35 to 54, by age, 2002
OTHER EXPENDITURES
Figure 49: Average expenditures on other categories by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Graph 10: Selected average expenditures on other categories by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 50: Indexed expenditures on other categories by CUs headed by people aged 35 to 54, by age, 2002
Figure 51: Average per capita expenditures on other categories by all CUs and by CUs headed by people aged 35 to 54, by age, 2002
Figure 52: Share of total expenditures on other categories accounted for by CUs headed by people aged 35 to 54, by age, 2002
APPENDIX: RESEARCH METHODOLOGY
Consumer Research
Sampling & Weighting
Presentation & Definition
Further Analysis
Trade Research
Informal trade research
Formal trade research
Desk & Internet Research
Sources
Definitions
Forecasts
APPENDIX: WHAT IS MINTEL?
Mintel Reports
Global New Products Database
Comperemedia®
Mintel Services
POS+
Mintel Consultancy
AbstractDue to its large size, the Baby Boom generation has had a significant impact on society, business, and the economy. The impact of the generation has been felt in all areas of consumer spending, from increased sales of baby products when they were young to rising demand for houses as they set up their own households to growth in retirement savings vehicles as they prepare for their senior years.
Although members of the Boomer generation share many characteristics, making it possible for companies to target the group as a whole, there is also considerable diversity within the generation. They are more racially and ethnically diverse than older generations, for example, although less so than younger generations. Since the generation spans 19 years, older and younger members are in different stages of life, with children found in most households in the younger group, for example, while the majority of older Boomers are empty nesters.
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