More evidence on why older consumers are important to luxury brands

Over half (52%) of affluent US Baby Boomers plan to buy one or more luxury product or service over the next 12 months, according to Shullman Research Center.

Representing roughly 9m of the total US population, these upscale Baby Boomers account for about 12% of all 75m Baby Boomers in the US.Shullman-Baby-Boomers-Luxury-Buying-Plans-July2014

One has to apply this learning carefully to other countries such as China who’s rapid economic development means that there is a higher concentration of wealth among younger population groups.

However, luxury brands would be wise to adopt age-neutral positioning to snare the widest group of buyers possible.