Young Adults and Baby Boomers—Who They Are...

The bulk of America's net worth lies in the hands of these two economic groups. They are the parents—and grandparents—of today's youth, and as such, represent an enormous opportunity to broaden your customer base. While generation X's buying preferences include immediacy, independence and innovation, baby boomers prefer value, options and respect from the businesses they frequent.

Young Adults

• Primarily composed of people from generation X (now in their mid-20s to
  mid-40s) and generation Y (those born after 1982).
• Generation Xers spend $125 billion a year, with the total spending power of
  over $200 billion annually.
• With 58 million people between 18 and 40 years of age, young adults make up the second-largest demographic in the nation.
• While baby boomers were once considered the most educated generation, this generation has surpassed them in terms of education, disposable income and impact on societal trends.
• The Internet is way of life for gen Xers and part of their search for community and friendship.
• Nearly seven in 10 gen Xers began saving for retirement before the age of 25, compared to only three in 10 baby boomers.

Baby Boomers

• Now in their mid-40s to early 60s, baby boomers are a major economic force, totaling nearly 77 million in the U.S. and making up 27 percent of the total population.
• The estimated annual spending power of boomers is more than $2 trillion.
• Boomers represent 70 percent of the nation's worth.
• With boomers approaching their golden years, the senior population is expected to grow by 70 percent over the next 15 years.
• Boomers spend over $29 billion yearly on grandchildren's gifts.
• Most Boomer households spend more than $45,000 a year.

Why You Should Care...

Well-educated and family-oriented, gen Xers wield a lot of social and economic influence. They not only control their children's extracurricular time and activities but are also looking for entertaining and stress-relieving outlets of their own.

Baby Boomers are an ideal target market. They are affluent, at the peak of their earnings, and they enjoy spending money. Boomers are frustrated by aging and will do what it takes to feel and stay young. Moved by the music they grew up with and an inherent desire to express themselves, many boomers will jump at the chance to fulfill their rock star fantasies or achieve their lifelong goals of learning to make music. Best of all, they now have expendable income to buy the kind of instruments they've always wanted.

How You Can Reach These Markets...

One way to attract gen Xers and baby boomers to your store is through the Weekend Warriors program. This turnkey music-making initiative can revive their rock star dreams while stimulating your company's sales at the same time.

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