Boomers’ spending: Less stuff, more life

It’s fascinating to join discussions (like the following from RetailWire) about changing consumption patterns. One of the biggest? Baby boomers like me:

Retailers will continue to have opportunities to sell products related to health, wellness and fitness as Boomers try to chase their imagined “youth” well into their 70’s. But the overall premise of the conversation is correct: Boomers seem to be less interested in accumulating more “stuff” and more engaged in travel, dining and leisure. (This can extend to consumption of technology, another opportunity for retailers.) Their disposable income is also being pinched by rising healthcare costs.

At some point most people decide to spend on life experiences “while they can” rather than more possessions, unless those purchases are for their children and grandchildren. But even multigenerational spending is likely to be geared toward family “experiences” in the future…not a new phenomenon, by the way, even though we Boomers think we’re the first to undergo anything.

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