Boomers ready to spend: Ipsos Reid
But they're feeling overlooked by marketers, according to the results of a poll set to be released at today's 'Ink & Beyond' CNA and CCNA conference.
Dodgy economy notwithstanding, boomer-age Canadians are ready, willing and – as the country’s wealthiest demo – able to spend their money.
That’s the clear message of an Ipsos Reid survey set for release today at the 2008 conference of the Canadian Newspaper Association and Canadian Community Newspapers Association, says Ipsos SVP of public Affairs John Wright. ‘The research shows that at a time of ever gloomier economic forecasts, this is a group that needs to be reached out to, as it represents tremendous potential for growth.’
But there’s a downside. The survey of 1,980 Canadian adults aged 44-62 – one of the largest polling samples of this demographic in recent years – found that while eight in 10 boomers self-identify as having ‘big buying power,’ four in 10 feel ignored by advertisers.
Wright agrees with the respondents’ complaint. ‘For decades, advertisers have chased younger audiences to gain loyalty and market share,’ he notes. ‘In today’s economic conditions they might be better off to refocus on a group that combines maturity with money and a desire to spend it.’
CNA president/CEO Anne Kothawala is on the same page: ‘Clearly, there’s a disconnect between who advertisers think they should be marketing to and who actually has the resources and intention to spend. In other words, fistfuls of ad dollars are missing the boat.’
According to the Ipsos Reid survey, taking a vacation (39%) tops the list of boomers’ spending priorities in the next 12 months, followed by purchasing home electronics (35%), furniture (31%), mutual funds or investments (31%), appliances (24%), a car (23%) and a computer (23%).
While boomers are frequent Internet users, newspapers remain a medium of choice and a fixture in most of their lives, with two-thirds (65%) agreeing that they don’t see a time in their future when ‘a newspaper will be replaced by something else.’ A majority say they have become attached to print-medium journalists, with six in 10 (59%) agreeing that they typically read articles from writers they know because they value their comments and analysis.
Complete information on the survey is available at www.cna-acj.ca.