60 is the New 40: Baby Boomers and The Changing Consumer Landscape

by Peter Morich, Chair of the Market Research SIG

The 2014-15 market research SIG series has kicked off with two excellent presentations: one on Millennials in the Marketplace and the second on Baby Boomers and the Changing Consumer Landscape. Both events were highly interactive! The meeting was a combination of presentation and small group discussions in which attendees were able to develop implications for their particular business. Approximately 20 marketers attended each event at NQC, National Qualitative Center.

At the most recent event, Curt Fedder of Life Stage Research Insights shared learnings from his research on Baby Boomers. He presented 10 key insights about this segment:

  1. The absolute number of Baby Boomers and Senior Citizens is staggering!
  2. There are no “typical” Baby Boomers (or Senior Citizens for that matter).
  3. Personal buying power and influence over purchase decisions is significant.
  4. Baby Boomers are working longer and reinventing themselves.
  5. Baby Boomers are an anxious generation.
  6. Retirement living situations are changing for this group.
  7. Age is relative…60 is the new 40! And so on!
  8. Baby Boomers are enthusiastic users of technology.
  9. Baby Boomers have new role models.
  10. Baby Boomers find satisfaction in new hobbies and special interests.

If you missed the event, contact Curt Fedder at Curt@LifeStageResearchInsights.com for a copy of the presentation he shared.

A special thanks to NQC-Chicago (National Qualitative Center) who hosted the event. Located at 625 N. Michigan Avenue, NQC is a top-notch focus group facility complete with the latest technology to host qualitative research. Participants were also treated to tour of the facility and light snacks.

Join the next SIG event on March 19th. Curt Fedder will also lead this session. The topic is Maximizing the Use of Qualitative Research through Active Listening and Objectives Setting. Curt will draw upon his extensive experience as both a buyer of qualitative research (from his client side years) as well as from a vendor perspective (now that he works on the supplier side of the business).

At this session you’ll learn tips for how to listen to qualitative research, develop strategies for interpreting what you hear and taking better notes while attending sessions. There will also be a discussion on objective setting with examples of appropriate objectives.

This will be an interactive event as well: attendees will work in teams on “mini” qualitative assignments.

The session will begin at 6:00 PM and will be held also at NQC. Register today!

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