Knowing demographics in is a huge asset and requirement of successful marketing. Any business that is really successful has put in the research of who their target audience for their product is and what generation is spending the most money. Today’s baby boomers account for about 25 percent of the U.S. population but hold 75 percent of the nation’s financial assets and account for about 50 percent of total consumer spending. As they reach their peak earning and spending years, the boomers will continue to constitute a lucrative market for financial services, new housing and home remodeling, travel and entertainment, eating out, health and fitness products, and just about everything else. The Millennials were the first generation to grow up in a world filled with computers, cellphones, satellite TV, iPods, and online social networks. A recent study found that 91 percent of Millennials are on the Web, making up 32 percent of all U.S. Internet users. According to another study, 77 percent of Millennials frequent social networking sites and 71 percent use instant messaging.
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