WOWO’s Baby Boomers Still Want to Spend Money With You

6 years ago, May 2016, I wrote an article titled, WOWO’s Baby Boomer Audience Wants To Spend Money with You.

It’s still true.

Despite all that has happened the past 6 years with the economy, with politics, with.. well, you name it… the WOWO Radio Audience has money to spend and they are spending it every week.

I’m getting some fresh research into our audience and the audiences of other media and it is fascinating.  I also have more than 6 years of antidotal stories of businesses using WOWO than I had when I first wrote the original story. What follows is what I wrote in 2016 with a few updates.

I’m going to lay this out for you, Mr/Ms Business Owner in the Fort Wayne area:

WOWO’s Baby Boomer Audience Wants To Spend Money With You

A lot of attention is given to the under 50 crowd because, well, people over 50 are nearly dead,  Or dead broke.  Or drooling toothlessly in their soup, or…

I wonder what other myths you have about Baby Boomers? I found an article that addresses some of them.  We’re going to look at them in a second.

First the relationship between WOWO & Baby Boomers.  WOWO radio was the radio station we listened to as school kids to find out if we had to go to school or if old man winter caused the school’s to close or delay.  As a 6 year old when my family first moved here, we learned that Bob Siever’s was Mr. WOWO with all the answers in the 60’s and 70’s, (my youth).

Now in 2022 WOWO continues to have the most loyal audience in town of adults over 21 years old and the biggest chunk of those 60,000 weekly listeners are baby boomers.

Let’s break some Baby Boomer myths from the article:

Who’s got the money to spend? Boomers accounted for 70% of the disposable income in the United States in 2012, and they will continue to be the wealthiest generation in the country until at least 2030, when they’ll still have nearly 45% of the disposable income. Ten years later, in 2022, Baby Boomers still have more than half the wealth in the United States according to the Federal Reserve.

Here’s 3 more from the article:

1. Baby boomers are not tech-savvy.

Both Steve Jobs and Bill Gates were born in the boomer years, and their generation was the first to experience the massive productivity increases that technology can drive.

Baby boomers are just as tech-oriented as are younger generations. Eighty-two percent of Boomers use Facebook, with 15.5% spending more than 11 hours per week on the site. Boomer women are also one of the fastest-growing categories on Pinterest. They also spend more time consuming and sharing content online than do other demographics.

In 2022, Boomers are also using Instagram, and doing online shopping.  Boomers are even teaching their grandkids how to use technology!

2. Baby boomers are reluctant to spend money.

Adults 55-64 consistently outspending the average consumer in nearly every category.

In fact, if taken as their own economy, the 100 million Americans who are aged 50 and over would rank the third largest in the world behind the U.S. and China. When it does come to retirement, however, two-thirds plan to spend more time doing things like shopping, traveling and entertaining.

And some more numbers from 2022:

• Baby boomers account for about 38 percent of pet spending. [Source: Pet Business Professor]
• Baby boomers increased their spending on new clothes by 28 percent compared to before the pandemic. [Source: Retail Dive]
• 59 percent of baby boomers are willing to pay extra for socially compliant, sustainable products. [Source: Deloitte]

3. Baby boomers are old fashioned.

A recent study called Baby boomers “media-loving, eternally optimistic, self-indulgent consumers.” Now that they’re rid of burdens like college tuition, mortgages, and child care expenses, they’re looking to re-tool themselves and re-define their lives. Now rid of debts and obligations, they have the means to do it.

My 2022 update: Baby boomers are no longer the largest generation, but they do possess more wealth than Gen Xers, millennials and Gen Zers. With high average spending and a propensity to indulge in luxury purchases, baby boomers have an outsized effect on the overall health of the economy.

Want some examples of Boomers?  Boomers are not your elderly grandparents. Prince was a baby boomer. So was David Bowie. George Clooney, Barak Obama, Donald Trump, Bill Clinton, Paula Abdul, Jeff Bezos, Tom Cruise, Tom Hanks, Kenny Loggins, Brad Pitt, Jerry Seinfeld, Demi Moore, Madonna, Oprah … all baby boomers. Not a single, crotchety, old fogy among them.

Adding to the clear proof of Boomers’ immense consumer power, they drive almost 50% of all retail sales whereas Millennials represent a mere 10%.

Here’s the opportunity that you have with WOWO Radio.  Want to see how it can work for your business?  Contact me.