The Baby Boom Generation was born between 1946 and 1964 and is now over 50 years old. Recent figures published by U.S. News & World Report show that Baby Boomers control an astounding 70 percent of all disposable income in the U.S. Furthermore, 70 percent intend on taking an overnight vacation during the course of the next 12 months, despite saving for their retirement. Nearly half of them are planning on spending at least $1000 to as much as $5000 on their vacation. This amounts to an immense market, and a highly loyal one as well. As the U.S. News report goes on to state, 55 percent maintain their loyalty by returning repeatedly to their favorite brands.
Since it is expected that by 2017 over half the U.S. population will consist of Baby Boomers, it is imperative for hoteliers to fully grasp the needs and desires of this massive but aging population segment. Of course there is much common ground between generations in regards to appealing to their sensibilities, but there are specifics unique to Boomers.
- They Think Young -
- They Are Tech Friendly -
- They Can Be Very Skeptical -
In the next part of this series we will focus on the largest generation currently, the Millennials.
Posted via OnFast - http://www.OnFast.com