Baby Boomers Report Uncovers $46 Billion Growth Bonanza for the Taking

Baby boomers represent a potential $46 billion opportunity as well as a challenge for today’s retailers, according to a new report, “The IRI Baby Boomers Report: Understanding the Emerging Trends in Baby Boomer Spending” from Information Resources, Inc. (IRI), a global provider of enterprise market information solutions. 

At approximately 78 million people, baby boomers are one of the largest buying groups in America. In fact, the Food Marketing Institute estimates that this group represents 50% of total U.S. spending. Each baby boomer segment will experience a broad range of lifestyle changes in the coming years that will dramatically change where they shop and what they buy.

The report closely analyzes this important consumer segment and uncovers new insights that empower retail and manufacturing executives to understand, benchmark and predict baby boomer shopping trends.

A few of the findings from the report that were driven by consumer panel data and analysis from IRI include:

  • In some key categories, baby boomer shoppers are more likely to buy branded products than younger shoppers.
  • Americans older than age 60 are leading the spending shift towards supercenters.
  • Since 2002, baby boomers without kids have increased their food and beverage spending at twice the rate of total category growth.
  • During the next decade, an enormous share of CPG spending will be generated by “Truman boomers,” those currently in their 50s, who are moving into their 60s. Spending is expected to decline for shoppers in their 40s due to large-scale demographic shifts.
  • As boomer segments age, their spending across food, beverage, and non-food categories can have significant differences, highlighting the need for retailers and manufacturers to tailor their marketing approach to each boomer segment.

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