Baby Boomers Changing The Way Packaging Targets Consumers
A recent study by Symphony IR showed that baby boomers in the United States spent more than $160 billion on packaged products last year. With a total population of 80 million, these individuals are expected to have an even greater impact on the the consumer packaged goods market and retail and healthcare industries in the coming years.
To be classified as a baby boomer an individual has to have been born between 1946 and 1964. Because of the nearly 20-year age range, the study broke the demographic into two groups, those born between 1946 and 1955 and those born between 1956 and 1964. Marketing to boomers as if they were one single entity may not be the best strategy, the study found.
"Boomers will experience a broad range of lifestyle changes in the coming years that will dramatically change where and how they shop for consumer packaged goods and what they buy," said Susan Viamari, editor at Symphony IR. "The important thing for CPG marketers to remember is that boomers are not a homogeneous group, so sweeping strategies will not be effective. By developing highly-targeted marketing strategies that are aligned with the needs of key shoppers and consumers, retailers and manufacturers can create shopping experiences that will win share of spending and ongoing loyalty."
Pure Silk Packaging Gets Silkier
Pure Silk, a maker of shave creams, is looking to appeal to baby boomer women with its latest packaging change. The new shave cream contains an improved moisturizing formula that has twice the amount of aloe compared with the company's previous shave creams.