In 2014, the number of millennials in the United States eclipsed the number of baby boomers, according to the Census Bureau. The Census counted approximately 83.1 million millennials, compared with 75.4 million baby boomers. Millennials may be the generation du jour, but don’t forget the baby boomers so fast—they still represent a significant segment of the population, with a tremendous amount of disposable income.
The numbers according to Women’s Marketing:
- 52% of female baby boomers say that they use beauty products to look good.
- 38% of boomer women were interested in anti-aging claims.
- 60% look for products with moisturizing/ hydrating properties for dry skin.
- 50% state their main reason for buying products is replenishment.
- 13% said they only seek out new products that will work better than their current brand’s products.
- Fewer than 5% said they would buy something unplanned.
- 60% said that previous personal experience remains their biggest purchase influencer.
- 3% of boomers prefer branded products over private label
- 14% say they purchase upscale beauty brand products.