How do baby boomers effect the following?
IV. Findings and Observations
a. Age plays a significant part in consumer decisions (baby boomers)
i. Elasticity of goods
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Baby boomer is a term used frequently in our society. It has a cultural context, used in much the same way as generation x or generation y. The baby boomer demographic is made up of people born between 1946 and 1964. In other words, baby boomers today are between the ages of 51 and 69. The term baby boom is reference to the substantial increase in the number of births after World War II. There are approximately 75 million baby boomers, 30% of the population.
Age, even within a specific demographic, is an important factor in one's decision making. This is important to remember with the baby boomer generation because during these years, particularly the 1960's and 1970's, there were societal and social changes that took place that arguably defined those times. Divorce rates rose, people wanted to live better, more affluently than they had before, parents were becoming much more involved in their children's lives, women were becoming a ...
Attached is the document outlining areas of thought as it relates to baby boomers and the impact they have on the economy in the US.