Gray is the new black: Baby boomers still outspend millennials
Big numbers, big spenders
By 2020, there will be about 11 million¹ more consumers over age 60. While the share of spending among younger consumers is expected to decline over the next 10 years, older boomers should gradually spend more with those aged 60+ reaching a 33 percent share of aggregate spending by 2025.
Industry forecasts show that Gen X and millennials will continue to be important consumer targets—as much for their current spending as for their longer-term loyalty—but the strongest future growth potential in spending lies firmly with baby boomers.