Business targets boomers’ money

Fourth of five parts

Joining the auto and garden shows scheduled for next spring in New York will be the Baby Boomers Show.

Organizers say it will be the first trade show designed specifically for consumers born from 1946 to 1964.

“It’s a big part of the population,” Neil Doherty, president of the trade show’s production company, says about the generation of Americans that spends nearly $2 trillion a year.

When the last baby boomer turns 65 in 2029, the generation will control more than 40 percent of the nation’s disposable income, according to the insurance industry’s MetLife Mature Market Institute.

“Basically, if you want to grow your business in the next 20 years, you better be targeting baby boomers,” says Matt Thornhill, president of the Boomer Project, a Richmond marketing research firm aimed at boomers.

Exhibitors at the show in Manhattan scheduled for April 28 to 30 will include financial-planning and investment organizations, real estate agencies, retailers, recreation companies and employers.

The exhibitors plan to market to the same generation that created the demand for Barbie dolls, rock ‘n’ roll and sport utility vehicles.

Now, as the first baby boomers turn 60 years old next month, the generation is creating a demand for financial-planning services, condominiums and vacation packages companies.

In this series, The Washington Times examines how the aging of America’s largest generation will rock the social-service and health care systems created by their parents’ and grandparents’ generations and how the boomers are living out their own vision of getting older.

Marketers say companies that have not figured out a way to appeal to aging baby boomers better hurry.

Beginning Jan. 1, another boomer will turn 60 years old every 7.5 seconds.

Big spenders

More than half of the boomers are at least 50.

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