While 80% of Canada’s Baby Boomers feel they have “big buying power,” 40% feel they’re being ignored by advertisers.
The findings, based on an Ipsos Reid poll of 1,980 Canadians 44 to 62, were presented at the Canadian Newspaper Association/Canadian Community Newspapers Association’s Ink & Beyond conference in Toronto today.
According to CNA research, 74% of all Canadian ad dollars are currently spent against the 25 to 54 demographic. “Clearly there’s a disconnect between who advertisers think they should be marketing to, and who actually has the resources and intention to spend,” said CNA president and CEO Anne Kothawala. “Fistfuls of ad dollars are missing the boat.”
“For decades advertisers have chased younger audiences to gain loyalty and market share,” said John Wright, senior vice-president of public affairs at Ipsos Reid. “In today’s economic conditions they might be better off to refocus on a group that combines maturity with money and a desire to spend it.”
The study also found that boomers are loyal to the newspaper medium, with 65% agreeing with the statement they don’t foresee a time when “a newspaper will be replaced by something else,” and 59% saying they typically read articles from writers and journalists they know because they value their comments and analysis.
Taking a vacation tops the list of boomers’ spending priorities within the next 12 months, at 39%. It is followed by purchasing home electronics (35%), furniture (31%), mutual funds or investments (31%), appliances (24%), a car (23%) and a computer (23%).
Travel topped the list of spending priorities for boomers in most regions, including British Columbia (43%), Alberta (36%), Saskatchewan and Manitoba (43%), Ontario (36%) and Quebec (39%). In Atlantic Canada, travel took a back seat to furniture (43% versus 42%).
The online study was conducted between April 22-28 and has a margin of error of +/- 2.1% 19 times out of 20.
