Of course we love the kids—every marketer loves the kids. And year after year, we send out message after message in desperate attempts to win the hearts and minds of those fickle young folk. Their tastes drive the culture; it’s totally understandable.
In a blog referencing this week’s Consumer Issue, Matt Carmichael of Advertising Age takes some time to analyze the Bureau of Labor Statistics’ latest consumer expenditure data to discern the actual purchasing habits of tweens, millenials, singles, affluents and every other silly label we slap on groups of people as a means to parse data.
Long story short: baby boomers spend the most on pretty much everything. From a consumer point of view, they are an overwhelming economic force whose spending towers over every other generation in every segment—in most segments, it’s double the spend of other generations.
So as much as you love the Arcade Fire, you might want to find your next commercial soundtrack in classic rock. Again.
By Dennis Ryan, CCO, Element 79