Baby Boomer Business Critical to Online Success

By Stephanie Rosendahl

Ecommerce owners who aren't harnessing the economic power of the baby boomers are probably leaving millions of dollars on the table. The baby boomers (people born between 1946 and 1964) have more discretionary income than any other demographic group and they are increasingly using online channels for a wide variety of activities. One of the most important things you and your web host can do is develop a strategy for tapping into this valuable demographic.

In 2011, there will be 25.4 million internet users who are 62 years of age or older. That represents a 7.6% annual growth rate, more than twice the 3.1% growth rate that eMarketer officials predict for the entire U.S. internet population. "To focus on younger demographics at the exclusion of boomers and over-60s, as some marketers have done, is to miss a potentially huge opportunity to tap into a large, vibrant, diverse and fast growing segment of the U.S. internet population," said Paul Verna a senior analyst for eMarketer.

In previous generations turning 50 often marked a time when people would start to wind down. But with average life expectancy at an all-time high of 77.4 years, more and more Americans over 50 consider middle age as the beginning of a second life. "Retirement for this generation will be redefined as a turning point," said Ken Dychtwald, president of the San Francisco consulting firm Age Wave. "Somewhere near 62 or 64, they'll leave their primary career and maybe even enjoy the luxury of a year off. Then they'll launch into a new chapter in their lives. That new chapter might be a volunteer stint or low-stress part-time work or the 'fun' careers they've always wanted to pursue." Some organizations define the boomers as "people with broad interests, extensive curiosity and a wide range of activities in both their online and offline lives."

As a group, people age 50-60 are flush, with more than $1 trillion in spending power a years. "Marketers are slowly waking up," said Matt Thornill, president of the Boomer Project Consultant Group. "If you're going to expand your business, you will have to market to the aging boomer." The obsolete marketing assumption that consumers' brand preferences are locked in by age 40 has been blown out of the water by this generation. Today's fiftysomethings are just as likely (and in some cases MORE likely) to try something new than their younger counterparts.

So what can you do to make sure your ecommerce site benefits from this vibrant group? For one thing, avoid web designs that are tedious and frustrating. Even highly active people will begin to experience some problems with their vision, hearing, cognitive functions and mobility. Talk to your web host about "boomer-friendly" site designs. Even though reduced vision is the number one health factor affecting older users, you would be surprised at the vast number of web designers who select small type fonts and then freeze the tax so that it cannot be enlarged. Low contrast color schemes and small type may look pleasing to the eye on storyboards but they can present a significant vision barrier for the 50 plus group.

Marketers, both online and off, will have to devote substantial resources to understanding the needs of the boomers, because this group is absolutely essential to business success both now and in the future. Your web host can help you develop the "boomer strategy" that is best suited to your business.

Oh, and by the way, don't EVER refer to the boomers as "old" As one astute marketer put it. "Don't talk to their chronological age; talk to their self image. Bear in mind that 50 is the new 30 and act accordingly."

Stephanie is currently working on several blogs that are designed to help increase awareness of legal, science and medical issues. Visit http://www.healthsciencenews.com and http://www.medicalonly.com to see Stephanie's work.

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