Baby Boomers Drive Trade

Over 77 million American baby boomers aged 41 to 59 born 1946-1964 represent more than a quarter of the U.S. population & an estimated US$2.1 trillion in spending power.

There are 45.8 million baby boomer households in America. A boomer household has an average income of US$56,500, and spends about $45,000 per year.

Boomers aged 51 to 59 spend 11% less on children's items than younger boomers aged 41 to 50. Older boomers spend:

• 50% more than average upgrading their homes with items like china and silverware.
• 13% more than average on adult women's apparel
• 11% more on adult men's apparel
• 23% more than average on hotels and vacation homes
• 20% more than average on life insurance and other personal coverages.

Over 50% of American baby boomers live in nine states: California, Texas, New York, Florida, Pennsylvania, Illinois, Ohio, Michigan and New Jersey.

Baby boomers represent more than 30% of the population in the following seventeen states: Alaska (33.3%), New Hampshire (32.8%), Vermont (32.2%), Maine (31.8%), Maryland (31.6%), Colorado (31.4%), Connecticut (31.2%), Virginia (31.1%), Wyoming (31.0%), Washington (30.9%), New Jersey (30.8%), Montana (30.7%), Massachusetts (30.5%), Minnesota (30.3%), Oregon (30.2%), West Virginia (30.0%), and Wisconsin (30.0%).

This blog presents independent is based on data presented in MetLife’s Mature Market Institute ‘A Profile of American Baby Boomers’ .