New findings give insight into the on-line media consumption and behaviours of the mature boomer consumer. Some of the highlight findings on media consumption are:
· Gap in print media consumption among Boomers: Boomers still use traditional media more than those of Generation X, but not all Boomers consume media in the same way – the biggest gap being between older and younger Boomers. This is most striking within traditional print media - with high consumption by older boomers of newspapers and magazines.
· Internet the last thing to go for Boomers: Among all media services listed, Boomers were least willing to give up the Internet, versus the top response of the 2008 survey: their mobile phone. This is not surprising as the survey shows they now spend more time than ever online (a rapid increase in one year from 38% to 62% stating they now spend more time on-line).
· Boomers catching up with Generation X on social networking: The majority of Boomers have joined popular social networking site, Facebook within the last 6 months.
Among the findings is that Baby Boomer-aged respondents’ anxiety has shifted from the collapse of the economy to the cost of health care. Most significant is the shift in the media consumption of this age group, as the only media activity to rise dramatically was time spent on the Internet. This is one of several insights on the emergence of the new ‘social media expert’ among Baby Boomers, and indicates that social media has significantly carved out time generally reserved for traditional media.
The survey was conducted by CPH Research, LLC on behalf of the San Francisco-based Continuum Crew. Highlight findings in this follow-up survey (to their Economic Impact Study released in December 2008) revealed specific anxiety and life events in the 2009 survey:
· Cost of healthcare surpasses the economy as major anxiety-inducing issue: Anxiety about the economy has decreased in the past year (46% indicated it as the issue they were ‘very nervous’ about in 2008); now the issue of most concern is cost of healthcare (as indicated by 49% in 2009). This is particularly the case among Boomers, and those who are Medicare eligible. Overall levels of anxiety are increasing.
· For older parents, more adult children are moving back home than are leaving it: This is a previously unprecedented finding within this research series, and markedly shows that Boomers’ lives are in transition.
In interpreting all the responses about anxiety, in terms of their mindset and behaviour, it appears Boomers are now re-framing the notion of frugal living into the idea of simplicity.
The national economic situation has created a new ‘planner’ type personality among Boomers that engages more with institutions, such as financial services organisations and retirement communities.
Children moving back in with parents, or delaying leaving their parent’s home, is likely having an effect on the family dynamic and household, which may mean an inclination to the return of the extended family structure of the World War II era.
With thanks: Coach2Coach newsletter, March 10, 2010
