Baby Boomers
According to Investopedia, baby boomers refer to the people born post-war, in the years 1946-1964. In America, this demographic represents nearly 20% of the population, thus they have a significant impact on the economy. (1)Fig 1.1: Infographic (2)
The biggest difference between Baby Boomers and Millenials is the preference regarding using technology, be it the use of smartphones or social media. Boomers tend not to spend a lot on entertainment or dining out, with clothing expenses declining drastically at 42% for 45 to 54 year olds and 70% for 55 to 64 year olds.(3) This does not bode well for the fashion industry! However, we have numerous other demographics and consumer types to focus on, thus the difficulty of marketing to Baby Boomers is not a big problem.
Trend Forecasting Companies & their Clients
1. Trendstop(4)
Fig 2.1: Trendstop's logo
Fig 2.2: Trendstop's clients
Other than providing trend forecasts to various companies, Trendstop also offers in-depth catwalk analyses on fresh runway shows each season to pinpoint emerging trends. However, some reports and forecasts must be purchased to view.
2. Trendwatching (5)
Bibliography
1. Investopedia (2016), Baby Boomer, Available at http://www.investopedia.com/terms/b/baby_boomer.asp (Accessed 23 January 2016)
2. Weiler, E. (23 June 2015), "eCommerce Infographic: Baby Boomer vs. Millennial Shopping Habits" [Online image]. Available at http://www.nextopia.com/blog/2015/06/ecommerce-infographic-baby-boomer-vs-millennial-shopping-habits/ (Accessed 23 January 2016).
3. Touryalai, H. (15 October 2012). "Baby Boomer Spending Habits: Here's What's Really Hurting Their Retirement". Forbes. Available at http://www.forbes.com/sites/halahtouryalai/2012/10/15/baby-boomer-spending-habits-heres-whats-really-hurting-their-retirement/#751e9e714b70. (Accessed 23 January 2016)
4. Trendstop (2002-16) Available at www.trendstop.com.(Accessed 23 January 2016)
5. Trendwatching, Available at http://trendwatching.com/premium/clients/#form (Accessed 23 January 2016)
No comments:
Post a Comment