All eyes on Gen Z, are marketers losing sight of wealthy Baby Boomers?

Baby Boomers, the world’s wealthiest generation, are increasingly shifting their media consumption habits from traditional media to embrace digital platforms, but marketers are yet to adapt their strategies accordingly, says a latest report from WARC Media. 

Defined as individuals born between 1946 and 1964—now aged between 60 and 78—Baby Boomers are not simply spending more time on social media, but instead, they are transitioning from offline content to its online counterparts, such as connected TV, digital audio and online news outlets. 

“This transition is significant for marketers, as these formats are traded and measured differently, necessitating a fresh approach to media planning,” says the report titled “Baby Boomers’ Big Digital Shift”, pointing out that American baby boomers, who make up 20% of the country’s population, own 52% of its net wealth-worth $76trn. 

Numbers say it all

According to an audience research firm GWI, by 2024, over-55s globally will spend more than half of their media time (54.4%) on online platforms, including the digital components of traditional channels like connected TV, digital audio, and online news—up from 47.0% in 2020.

WARC's own studies with regards to media consumption among 45-54s a decade ago and today’s 55-64s (those born between 1959 and 1970) reveals a significant shift. In 2013, less than a third (31.6%) of their media time was spent on digital channels. Fast forward to 2023, and that share has surged by over 20 percentage points to 53%, largely driven by behavioural changes during the pandemic.

Alex Brownsell, Head of Content at WARC Media, highlights the urgency of this shift: “While brands are preoccupied with Gen Z, the affluent Baby Boomer generation is experiencing a media revolution. Advertisers must reassess long-held assumptions and tailor their digital media plans to the unique habits of older consumers.”

India Context

There is no official data available with regards to the baby boomer population in India. Official figures do note that people above 60 currently comprise a little over 10% of the population, translating to about 140 million. This population is projected to reach 19.5% of the total population by 2050. 

This is the cohort which grew up with strong economic growth along with India’s development story. A section of them, especially those in Tier1 and Tier 2 cities, have amassed great wealth, owing to strong earnings and habits of saving. 

In contrast, India has an estimated 116 million Gen Z consumers, which is less than Baby Boomers. Gen Z is the generation born between 1996 and 2010.

Brands are increasingly turning their attention towards Gen-Z (also called Zoomers aged 15-27) an age group which is the app-first generation that 'swipes up' for practically everything from social media to ride-hailing and food delivery.

While Gen Z is estimated to drive $200B in retail consumption in India currently; there is no estimate/study available for baby boomers in this regard. 

“While Boomers globally control a hefty share of disposable income, their influence in India is equally strong. Yet, the big question is: are we giving Baby Boomers the attention they deserve, or are we too busy chasing the latest Instagram trends,” says Siddhi Karia, Brand Marketing Specialist, Vero Moda. 

Karia shared, “As a marketer, and honestly, just by observing my own parents—I’ve seen how much Baby Boomers have gone from avoiding tech to becoming savvy YouTube navigators and online shopping pros. They send WhatsApp memes with flair and find the most unique things on Amazon. They’re far from being stuck in the past.” 

This evolution underscores the necessity for brands to adapt their strategies to engage this increasingly digital-savvy and affluent demographic, which is gradually embracing online shopping and quick delivery apps, say experts. 

The older generation, often referred to as the "silver generation," represents a lucrative market. They are in a strong financial position with peak earning capacity, minimal financial burdens (such as mortgages/EMIs), and limited outgoings, says veteran adman Dr. Sandeep Goyal, MD of Rediffusion. 

What do boomers want?

Boomers value quality, trust, and reliability. They want products that genuinely enhance their lives—not just the latest fads. If we can show them how our offerings simplify life or bring a little joy, we’ll likely win over this loyal demographic, says Karia. 

“This generation isn’t just about nostalgia; they’re more than willing to invest in timeless, high-quality pieces—especially in lifestyle. Sure, they may not be flaunting their outfits on social media, but they definitely appreciate durability and style”, Karia shares. 

“This demographic is exploring travel and other activities they couldn't pursue while working, such as joining golf clubs and engaging in fancy travel experiences. They tend to invest in durable goods and home renovations, focusing on comfort and quality.  They are also interested in private banking and wealth management services,” says Dr Goyal. 

Dr Goyal explains, “Baby boomers include retired CEOs, MNC executives and top government officials, who often consider shifting to their hometowns or hill stations. In cities like Mumbai, silver generation from other suburbs often considers downsizing to upscale retirement communities in desirable locations like Worli or Bandra. They may have been staying in larger apartments in suburbs due to children and their education. But once kids are grown up and shifted, they may trade in larger homes for smaller, upscale options that offer a greener environment.”

This consumer cohort buys new appliances such as Connected TV, new cars and new smartphones and other gadgets. With more disposable income in hand, they travel to new places, organize parties, go out for dinners and shopping. 

He advises that brands that operate in travel, luxury homes, luxury cars, lifestyle, home appliances, consumer durables, home decor, food, financial services and quality healthcare among others must focus on baby boomers which is a growing consumer segment in the country.

India, where the senior population is expanding, ignoring this demographic is a costly mistake. While some sectors like luxury cars and fine dining etc have begun to realize the value of this generation, most brands are still missing the boat, says Mitesh Kothari, Co-founder and CCO, White Rivers Media, adding that globally, the ‘silver economy’ is booming. 

Dr Goyal and Karia noted that a few brands in the luxury, tourism, lifestyle and real estate categories, are already leveraging the incredible power of Baby Boomers, while others have not yet realized the potential of this generation.  

“Media planners must ditch their habit of seeing Baby Boomers as living in a kind of media “statis”. If anything, older people are probably rising the most in terms of consumption of some of the most innovative digital properties around. It's genuinely impacting the way we buy media as an agency,” Paul Bland, Chief Digital Officer, Havas Media Network, noted in the WARC report.