Boomers on the Go (Part II)
This is Part II of my blog on Baby Boomers, one of the largest and most influential generations in American history. Let’s start with a few statistics.
- American baby boomers, who account for 20% of the country’s population, own 52% of its net wealth, worth $76 Trillions!
- 93% of Baby Boomers have smartphones and 75% use mobiles apps to stay connected to the world.
- Boomers account for 80% of luxury travel spending.
- Two-thirds of Baby Boomers chose hotels/motels as their preferred accommodation when travelling domestically (62% when traveling internationally).
- 76% of Baby Boomers are members of a hotel loyalty programme; 27% of a cruise loyalty programme.
- About a fifth of Baby Boomers that leave online reviews will comment on the hotels where they stayed.
Baby Boomers are known for their brand loyalty. Once they find a hospitality business that understands and caters to their needs, they are likely to stick with it and tell their friends and family about it, leading to repeat business.