Millennials may be sexier, but Boomers spend more on groceries
By the year 2015, America’s 50+ population, or 76 million Boomers between 48 and 65 yars old, will drive 52 percent of the projected $706 billion spent on grocery, according to the McKinsey U.S. Aging Consumer Initiative. Moreover, they own 80 percent of the nation’s financial assets and half of the discretionary income, reports Phil Lempert.
This generation reshaped the nation as it grew up, and it has the most economic clout today. Boomers, who do not compromise, will be as demanding as always of brand marketers and retailers -- and reward those delivering the health and wellness, food pleasures, new tastes, convenience, value, and easy-to-shop environments they want.