Like many Americans, I’m fresh from a Labor Day weekend spent with family. Multiple generations gathered in Watch Hill, R.I., including my 15 Millennial nieces and nephews. It was an interesting few days as a marketer.
Recent headlines have zeroed in on the Millennials and the Baby Boomers, and which group we should be paying more attention to. Every day, seemingly, there’s a new report on the power and importance of the Millennials — that $200 billion market — and this generation’s unique wants and needs. On the flip side, Women’s Wear Daily recently ran a six-page cover feature on the 55-plus cohort, which apparently outspends any other generation by $400 billion and controls approximately three-quarters of American’s wealth. Ignore them at your peril, says the report.