baby boomers2Car dealers need to reach car buyers who can afford their product. Baby Boomers age 50 plus have most of the wealth in America. Plus, they turn their new cars faster than any other group.
Is your dealership targeting 50 year olds plus with a message and offer that resonates with them? If not, maybe these facts might change your mind!
The Baby Boomer Facts:
  • 77 million people were born between 1946 and 1964, which is defined as the baby boomer era. (Translation: The boys came home from war and got busy)
  • The first baby boomer turned 65 on January 1, 2011
  • An American turns 50 every 7 seconds. That’s more than 12,500 people every day!  (Translation: When the boys came home from war, they got busy)
  • More people were 65 years and over in 2010 than in any other previous census.
  • By 2015, those aged 50 and over will represent 45% of the U.S. population.
  • By 2030, the 65-plus population will DOUBLE to about 71.5 million, and by 2050 will grow to 86.7 million people.
Lets talk wealth of Baby Boomers:
  • The baby boomers (50 +) control more than 75% of America wealth.
  • Baby Boomers have a net worth 3 times that of younger generations. 3 TIMES!
  • Baby boomers median household income is 61% greater than pre-boomers (Generation x and Millennials)
  • The 50+ have $2.4 trillion in annual income, which accounts for 42% of all after tax income. $2.4 TRILLION!
Baby Boomer Spending Habits:
  • Baby Boomers outspend other generations by an estimated $400 billion each year on consumer goods and services.
  • Spending by the 120 million Baby Boomers is right around $3 Trillion. $3 Trillion!
  • Americans over 55 spend 50% of all vacation dollars in America.

 

 

 

About the author:

Todd Vowell has been a business owner since 1994. Took 3 start up companies from zero to over $30 million dollars with over 140 employees including 52 salespeople. Over 2,000 people have been hired, trained, motivated, and educated by Mr. Vowell in the art of successful automotive digital/direct marketing, sales training, and social media.

5,000 Car Dealers have executed over 400 million pieces of mail with his events. Since 1987, dealers have invested over $130 Million Dollars in his custom exclusive events and sold over 600,000 vehicles. Promotions like The Butterball Bonanza, The Auto Loan Alert, The Decoy, Certification Test Market, Drive Back to America, and Dept. of Vehicle Acquisitions.

Mr. Vowell is proud to have worked with Jackie B Cooper, Jim Rohn, and his mentor, best friend, and dad, Dean Vowell.

Specialties: Creates the path, never follows it. He combines digital and complex variable data direct marketing, strategy, and enthusiasm for automotive direct mail marketing events worth a repeat performance!

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