Babyboomers also matter

Reading Time: 5 mins. 09/11/2018

Many of you will find the term 'old age' strange, but really many companies are already becoming the focus of attention, since they form a large part of the total number of people around the world.
These so-called 'Babyboomers' are between 55 and 75 years old and are tired of companies that forget when the wrinkles are too visible. These adults continue to feel young, they are active, they know how to use new technologies, they like fashion and go to concerts, travel and try new restaurants, and the most important of all is they have the money to do everything. In some cases, the millennials we look at so much do not have this last factor, which is essential for a brand to work.
As we just mentioned, nowadays most companies are targeting millennials, since they are the kings of Social Media and the preset. But it is clear that these young people still do not have the same budget to spend as adults or seniors who have saved all their lives, and in our case, in the hotel sector, especially if it is high-end, it is essential this part.
However, this is not the fundamental part of the matter, since the economic part can be solved by the parents of the millennials and also there are many of them that are already old enough to have their own salary and to be able to indulge the whims they want. But what we have to take more into account is that we are in a society with an increasingly higher life expectancy, so today's millennials will become in an old generation tomorrow.
Brands must be aware of the prominence that they are already beginning to take in the consumer sector, and that will be growing in the future. According to data of the UN report 'World Population Aging', it is expected that by the year 2095 the life expectancy will be around 90 years.
On the other hand, the same will not happen with the fertility rate, which will go from 1,6 to 1,8 in the year 2050. Therefore, we are faced with a situation in which the population will decrease, since births will not cover deaths, and it will be getting older.
This makes the brands begin to consider the fact of focusing more on the behavior of this segment of the old population. According to ONS, people over 60 already represent 16% of the population worldwide, and it is expected that by 2050 the figure will reach around 22%. The study makes it clear that we are facing a more aging society.

Therefore, in this post we want to warn of the existence of the old people and the interest that hotels need to have, and companies, before them. It is key to know what their interests and behaviors are, to think of marketing strategies adapted to them, since our sector is also favored by these consumers.
Actually, people of this age are potential clients of most hotels, except for some who may be targeting a younger population. In fact, they are the ones who have always been there, but maybe because we thought they are not adapt to new technologies, we have not paid them the same attention as the younger ones.
In Spain, a total of 8,7 million Spaniards are over 65 years of age, according to the National Institute of Statistics (INE). And most of them do not feel old, rather the opposite. Many of them, according to different interviews, confirm that they use and adapt to new technologies and that they like to think that companies keep thinking about them. Since, they reach retirement and do not want to see life go by but have more desire to live than ever.
The babyboomers seek to take care of themselves and care about their personal image, they want to know the world, not to get bored, to travel with their friends, to do different activities in different cities of the world and to know new environments, and the best, which they confirm, they have been saving all their life for this moment to come and enjoy it.
It is hard to think that the purchasing power of a Spanish retiree is high. But it should be noted that, despite the fact that the average pension in our country barely exceeds 1.000 euros, most of them have several savings, in addition to having paid the house, the car and their children 'placed'. In addition, the average pension of new retirees is higher, since it is around 1.400 euros. This situation favors that in their free time they get to consume more and be more demanding in their tastes.

In short, all consumers are welcome in all hotels, be millennials or baby boomers. But we do not have to judge that for a older people want to stop enjoying, at every stage of life people want to enjoy their time, regardless of the number that defines the years we have.