Did you know that Baby Boomers spend more money in more categories than any other group? Boomers have 2.5 times the discretionary income of those aged 18 to 49. They are about to inherit $14-20 trillion and are living longer, giving them more time to spend their money.
- 1 in 3 Canadians is over the age of 50.
- 80% of the wealth in North American financial institutions is in the hands of people over the age of 50
- 56 is the average age of a new car buyer
- Boomers buy more cars and spend more per car than any other age group, purchasing for themselves, their children and their grandchildren
- Among all age groups, boomers spend the most on technology and electronics
- Boomers are very likely to try new products
- 78% are online
Source: CBC Age of Persuasion