It’s not surprising that Baby Boomers are spending more than their older or younger cohorts. It’s not surprising because baby boomers have the numbers, and boomers have the disposable income… Let’s face it… Baby boomers spending their hard earned cash is good for a number of industries! A recent article appearing on NBC News.com points to the fact that “those 55 and older spent more time last year in a booth, on a bar stool or waiting at the drive-thru. Those between the ages of 55 to 64 visited restaurants on average 220 times last year, the highest of any age bracket”.
There isn’t an industry around that doesn’t keep an eye on the baby boomer generation. Given the recent news about boomers health being worse than previous generations, 78 million boomers should be looking for good food, a decent gym down the street, and other lifestyle changes that will lead to better future outcomes. Industries that cater to boomers in those areas should do quite well over the next decade.