NEW YORK Baby boomers are beginning to retire from the U.S. workforce, but according to Nielsen, their buying power remains strong.
Households with baby boomer members -- born between 1946 and 1964 -- account for nearly $230 billion in sales of consumer packaged-goods (CPG) products and represent 55 percent of total CPG sales, a new study by Nielsen and Hallmark Channel reports.
The research, which examined the CPG spending power and brand loyalty of baby boomer households, found that baby boomer households' share of sales is 5 points higher than their share of population, according to Nielsen and Hallmark Channel.
Nielsen and Hallmark also tracked baby boomer purchases of more than 6,500 brands measured by Nielsen's Homescan consumer panel. Each brand has more than 1 percent
U.S. penetration. Of these brands, baby boomers account for more than 50 percent of sales for 72 percent of those brands.
The research for Nielsen and Hallmark's joint study was conducted via the NielsenConnections Brand Target Audience products, which combine Nielsen's Homescan consumer panel with Nielsen's national television sample and its Nielsen Online Internet sample.
Hallmark Channel is the first cable television network to license the NielsenConnections Brand Target Audience products.
Adweek is a unit of the Nielsen Co.