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Baby Boomers in Australia

Baby Boomers in Australia

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Published by Jessica Yang
An insightful report on the 50-65-year-old consumer segment within Australia.

This conceptual report looks at the sizeable segment of Baby Boomers in Australia from a consumer researcher’s point-of-view. It will analyse previously written research papers, industry knowledge, academic journals, and statistics from Australia, as well as the United States, and United Kingdom as they are more mature economic markets on this segment in an attempt to forecast where this segment will be headed in the coming decade.

Breaking this report down, we will be touching on both micro and macro environments affecting this segment; delving into key influences on their perceptions, interests, opinions, activities, consumption patterns, and attitudes.
An insightful report on the 50-65-year-old consumer segment within Australia.

This conceptual report looks at the sizeable segment of Baby Boomers in Australia from a consumer researcher’s point-of-view. It will analyse previously written research papers, industry knowledge, academic journals, and statistics from Australia, as well as the United States, and United Kingdom as they are more mature economic markets on this segment in an attempt to forecast where this segment will be headed in the coming decade.

Breaking this report down, we will be touching on both micro and macro environments affecting this segment; delving into key influences on their perceptions, interests, opinions, activities, consumption patterns, and attitudes.

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Published by: Jessica Yang on Sep 11, 2012
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11/18/2012

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MKTG6204 Jessica Yang - SID#311177212 Page 1
BabyBoomersinAustralia
Meettheparents
 Aninsightfulreportonthe50-65-year-oldconsumersegmentwithinAustralia.Researched,andwrittenforProfessorTeresaDavis(UniversityofSyd
JessicaYangMastersofMarketing+61413320520jess_yang@me.com
 
MKTG6204 Jessica Yang - SID#311177212 Page 2
TABLEOFCONTENTS
TheBBB–BabyBoomerBackground………………………….…………03Introduction…………………………………………………………….….…………03You’reonlyasyoungasthewomanyoufeel……………….….………04 AgeMyths……………………………………………………………………....………04TailoredMessaging…………………………………………………....…………..05Fine-Print………………………………………………..………………....…………..05HealthyYou,HealthyMe…………………..……..………………....…………..05PiggyBank…………………………………………..…..…………….…...…………..06PS.PESTLE…………………………………………..…..…………….…...…………..06Employmentvs.Retirement……………….…..……..…………...…………..07DigitalAge…………………..……..…….………………………………...…………..07RespectMe…………………..……..….…………………………………..…………..07Conclusion–SoWhat…?….………………..………………………..…………..09Bibliography……………….……..….…………………………………..…………..10
 
MKTG6204 Jessica Yang - SID#311177212 Page 3
TheBBB–BabyBoomerBackground
TheendofWorldWarIIthroughtothemid-1960siscommonlyknownastheBabyBoom,andwhenlookingattheforecastedstatisticsofbabyboomersinthenextdecadeorsoviatheAustralianBureauofStatistics,andcross-referencingwithRoyMorganAsteroid,thissegmentissoon-to-beahugeconsumerpowerinthedevelopedmarketeconomy.Euromonitor(2011)arguesthatthenationisawaitingademographictimebombbroughtonbythemaindriverofthenearmassretirementofAustralia’sBabyBoomgeneration.
Thissegmentwillclearlybeaforcetobereckonedwith;the2006censusrevealedthatBabyBoomersrepresentedmorethan20%oftheAustralianpopulation,andanapproximatelyevensplitbetweenfemale,andmale.(ABS,2011).ThisnumberisonlysettoincreasedramaticallyasthesecondcohortofBabyBoomersisyettomatureintoretirement.BabyBoomersareuniqueinthattheyconsumemediadifferentlycomparedwithboththeirolderandyoungergenerations.Reisenwitz&Iyer(2007)foundthatunliketheiroldergenerationwhoprefertheradio,andtheyoungergenerationswhoaregluedtotheInternet,andSmartphone’s,BabyBoomersarefamiliarwithbothmassmarketing,andalsowitnessedtheemergenceoftheInternet.
Introduction
ThisconceptualreportlooksatthesizeablesegmentofBabyBoomersinAustraliafromaconsumerresearcher’spoint-of-view.Itwillanalysepreviouslywrittenresearchpapers,industryknowledge,academicjournals,andstatisticsfromAustralia,aswellastheUnitedStates,andUnitedKingdomastheyaremorematureeconomicmarketsonthissegmentinanattempttoforecastwherethissegmentwillbeheadedinthecomingdecade.Breakingthisreportdown,wewillbetouchingonbothmicroandmacroenvironmentsaffectingthissegment;delvingintokeyinfluencesontheirperceptions,interests,opinions,activities,consumptionpatterns,andattitudes.

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