A recent study by Ipsos Reid reveals that despite Canada’s slowing economy, the market could get a shot in the arm from consumer spending by the country’s baby boomers.
The poll served the demographic of Canadians between the ages of 44 and 62 and found that despite the economy, the group is still planning to shell out cash in the next 12 months on vacations, home electronics, furniture, investments, appliances and other items. Eight in ten boomers self-identify as having “big buying power” while four in ten feel that advertisers ignore them.
The poll concludes that during this period of gloomy economic forecasts, advertisers need to reach out to the baby boomer age group. Research shows that on average, 74 per cent of ad dollars are spent on the 25-54 demographic.