Hippies, Yippies, Yuppies, and now Yappies

 In the 50plus Online Magazine¹, Gary Geyer writes that the baby boomer tag is meaningless and archaic. Call them seniors or pre-seniors, Geyer indicates those terms could be a state of mind and not really coincide with the actual age of a person. The key is in how one perceives oneself.

Youthful, Active, Pre-Seniors or "Y-A-P-S" if you like. Or you can call them Yappies. According to Geyer, Yappies are youthful in appearance and attitude. They tend to be more active, exercise regularly, and eat healthier than Gen X-ers who are half their age. These pre-seniors listen to rock n'roll, are fashion conscious, surf and shop the Internet, take vacations, frequent restaurants, travel, and buy luxury items more than any other demographic. And their demographics are growing fast - to the rate of every 7 seconds someone joins the Yappie population by turning 50.

The over 50 market spends more than $30 billion a year on vacation travel according to an article in the online newsletter "Second50Years." This segment will account for 72% of RV trips, 70% of bus trips and 70% of cruise passengers. They tend to travel more frequently, stay longer and go the farthest. Using statistics from a variety of sources including the U.S. Census Bureau, here are some statistics regarding the Yappies.

• Millions of people over 50 will be considered affluent. 

• Older Americans are the biggest consumers of a number of products and services. 

• Older Americans will become the nation's most potent political force in the coming decades. 

• They are much more likely to read newspapers and watch TV than younger adults. They are also stalwart fans of the daily newspaper. 

• Although Internet usage overall is lower among this age group than younger adults, the percentage rises dramatically among those with a college degree. Among people who are 50 and older who are in the labor force and have a college degree, 78% use the Internet. 

• Americans age 55 and older are less likely to attend art performances than younger adults but they do enjoy art events. 

• 95,000 adults become grandparents each month; spending over $500 a year on gifts and over 60% take their grandchildren on vacation.

Words to the Wise 

Take the time to get to know your mature customers; listen with empathy, they have lived many years and have a wealth of information to share writes David Wolff in his article "Ten Behavioral Distinctions of Older Consumers: in The Mature Market: Guidelines for Effective Communication. Time spent with them could result in referrals - mature customers are known to rely on word-of-mouth recommendations. Wolff goes on to write "if they trust and respect you, they will refer business to you."

To obtain more information on this and other marketing research, contact Sue Hamilton at 608/266-6792.

¹ www.50plusmag.com, Gary Geyer, Editor & Founder