If you’re a Baby Boomer or part of the growing generational segment dubbed the Boomeranger, then watch out because marketing execs are thinking up ways to make you spend more this very second .
While less than 50% of U.S. households are run by married couples more and more generations of people seem to be living under the same roof, which has made it difficult to marketers to figure out how to reach what researchers from Experian Marketing Services calls “the new American household.”
Many young adults, falling into what is called the Boomerang generation, are more likely than before to be living with their Baby Boomer parents then ever before. If you’re either a young adult living with your parents or a parent currently or planning to take their adult child back in, here’s are some of ads you can expect to see targeted to you:
Loans and Insurance: Since both Boomers and Boomerangers have solid credit ratings, you can expect to see more ads for home-equity, car and educational loans. You can also expect to see more advertisements for insurance products like life, health and auto insurance.
Online Information and Services: Boomers and Boomerangers like to go online to carry out everyday tasks like online banking, travel planning and when searching for jobs. If you fall into either generational category then you can expect to see more ads in these categories. CNN, ESPN, Facebook, iTunes and WebMD are amongst the most popular websites amongst people from both generations.
Home Renovations: With young people returning back home in record numbers, more Boomers are considering either home renovations, remodeling projects in order to accommodate their children.
Computer software: Both these generations are accessing the internet at home, school and work and relying more on things like apps and mobile devices to meet their needs. If you haven’t already been enticed to purchase an Android or other smartphone and you’re either a Boomer and Boomeranger then you may change your mind once the marketing execs are through with you.
Other population segments coined in the study include American Loyalty (wealthy, influential couples living in the suburbs), Jet Set Urbanite (affluent couples and singles living in fashionable urban areas), Hispanic Harmony (middle-class Hispanic families in city-centric neighborhoods), Aging in Place (middle-class seniors in the suburbs) and Dare to Dream (young singles and couples starting out in metropolitan areas).
Who Are Boomerangers?
The term Boomerang generation is primarily used to describe young adults that are not recent college graduates that have returned back home out of necessity. According to a 2010 study conducted by Luminosity Marketing, Boomerangers don’t fit the “slacker” stereotype and fall into two categories: strugglers and savers. The first group describes those that have moved back home because they can no longer afford to live on their own, while the latter move back home not out of necessity but rather out of a need to save money.