Consumer Spending

The beauty industry is set to experience a boom in business.

The beauty biz will enjoy a boom soon, say demographers at Age Curve Consulting  who predict that the demographics that are most actively interested in beauty products will saturate the market soon. Hispanic women spend almost one-third more on beauty products than their peers, and the large Generation Y group will be active beauty consumers, adds Age Curve. 

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Baby Boomers are cutting back on dining out, entertainment.

One in ten Baby Boomers state that they have been forced to borrow money to cover daily expenses, says an AARP study examining Boomer spending habits, with 6 in 10 saying that they have cut back on restaurant dining and entertainment. The telephone survey of 1,002 participants found that one-third of respondents had stopped contributing to their 401(k) or retirement account, while 14 percent have cut back on their medications.

Baby Boomers support aging naturally, but their spending habits say differently.

Baby Boomers and Matures plan to spend over $4 billion dollars this year on anti-aging products and treatments, despite their assertions that they believe in “aging naturally.” According to a study by Focalyst, a market research firm specializing in the consumer spending habits and attitudes of Baby Boomers (individuals born between 1946 and 1964) and Matures (those born before 1946), roughly 48 million of these consumers will purchase an anti-aging product over the next twelve months.

Boomer Elites enjoy spending as much as saving.

Despite ubiquitous media images of wealthy golf-playing silver-headed men and women, Baby Boomers, while certainly the richest generation in U.S. history, can only claim a few members of its cohort as truly “elite,” according to a recent study.