Although the country’s most famous generation is aging, they
are showing no signs of slowing down, according to consumer research firm
Scarborough. Baby boomers, who make up 35 percent of the U.S. adult population,
are living up to their revolutionary legacy, showing the nation that their
heyday is far from over by taking pleasure in life's adventures.
In the
past 12 months, baby boomers have attended a professional sporting event (36
percent), attended live theater (22 percent), visited an art museum (14
percent), attended a rock concert (12 percent) and gone to the symphony or opera
(9 percent). The group is also 11 percent more likely than all American adults
to have eaten at a seafood restaurant or steakhouse in the past 30
days.
Baby boomers are also 9 percent more likely than all U.S. adults
to have traveled domestically for business or vacation purposes in the past year
and 3 percent more likely to have engaged in foreign travel for business or
vacation purposes in the past three years. Nine percent of baby boomers have
visited Europe in the past three years and 12 percent vacationed in the
Caribbean in the same time frame. Their enthusiasm for travel also keeps them
feeling lucky – 9 percent of baby boomers have visited Las Vegas in the past
year and 34 percent visited any casino in the same time frame.
Baby
boomers are also spending money to make their home lives more entertaining as
well. Nearly half (45 percent) of baby boomers live in a household with a
digital video recorder and 30 percent live in a household with a video game
system. Baby boomers are 21 percent more likely than all American adults to live
in a household with a pool, hot tub or spa and 7 percent of baby boomers live in
a household with a motorcycle. Baby boomers also take great pride in the
appearance of their homes as 27 percent have had landscaping done in the past
year and they are 21 percent more likely than all American adults to have spent
$10,000 or more on home improvements in the past year.
Baby boomers can
be found reading national news (28 percent), making travel reservations (23
percent) and gaining medical services and information online (14 percent). On
the radio, baby boomers listen to Adult Contemporary (30 percent), News and Talk
(28 percent), and Classic Hits (25 percent). The kinds of television shows
boomers typically watch are Movies (57 percent), Local Evening News (53
percent), Comedies (47 percent), and Local Morning News (44
percent).
Baby boomers are 22 percent more likely than all American
adults to be employed full-time and are 32 percent more likely to own a home
valued at $500,000 or more. They are 23 percent more likely than all American
adults to have an annual household income of $100,000 or more and are 9 percent
more likely to hold at least a college degree.
The biggest spenders of
the baby boom generation are the High-Earning Baby Boomers (HEBBs), defined by
Scarborough as baby boomers who live in households that have an annual income of
$100,000 or more. HEBBs account for 9 percent of the American adult population
and are more than twice as likely as all American adults to own a second home or
other real estate property for investment.
They were nearly two and a
half times more likely than all Americans to have spent $10,000 or more in the
past year on remodeling their homes. HEBBs live in households that are 82
percent more likely than all American households to have a 401K plan, and more
than twice as likely to have a college savings plan.
HEBBs can be found
in large cities where earning potential is reportedly higher. Among the top
local markets for HEBBs are: Washington, D.C. (18 percent of all adults); San
Francisco (16 percent); New York (14 percent) and Boston (14 percent).
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