Baby Boomers Key To Economic Recovery

Baby Boomers should be renamed Economic Boomers.<br clear="none" /> <br clear="none" /> As a statistical demographic, they control more than half of the discretionary spending, they hold more than 70 percent of the country's wealth and a behavioral trend that indicates that they are still spending that money, even during the recession.<br clear="none" /> <br clear="none" /> That's why, according to Steve Howard, they hold the key to America's economic recovery and why the best thing American business could do right now is market to them.<br clear="none" /> <br clear="none" /> "When the American economy recovers, it will be on the backs of Baby Boomers," Howard says. He is the author of <a href=" " target="_blank">"Boomer Selling,"</a> from ACTion Press. "Consumer spending is the backbone of our economy, and Boomers are still spending &#x2014; they are simply being more selective than before the recession."<br clear="none" /> <br clear="none" /> When selling to them, you can't 'quick close,' he says. You also can't corner them or trick them into buying something they can't afford.<br clear="none" /> <br clear="none" /> Boomers carry with them not only the hopes of companies that offer consumer products and services, but also the economy itself.<br clear="none" /> <br clear="none" /> Howard described the characteristics of Boomers, and how they decide to buy:<br clear="none" /> <br clear="none" /> &#x2022;They are smart, insecure, caring, direct, confident and suspicious. <br clear="none" /> &#x2022;They've seen every sales trick in the book and hate most of them. <br clear="none" /> &#x2022;They are the vanguard of the consumer culture, so marketers and sales people have been trying to sell to them since they saw their first cereal commercial on a 12 inch black and white TV (before cable). <br clear="none" /> &#x2022;Sales tricks and pressure tactics do nothing but insult them.<br clear="none" /> &#x2022;They not only know the value of a dollar, but they also know the value of a penny. They'll buy a $1,000 suit at Nordstrom's, then stop at Wal-Mart for socks. <br clear="none" /> &#x2022;They sometimes don't make sense &#x2014; they'll remodel their kitchen with a giant six-burner stainless steel range, and then use it for heating water for tea. <br clear="none" /> &#x2022;They'll bargain and haggle at the drop of a hat, squeezing concessions from salespeople. They’re favorite question is "is that the best you can do?"<br clear="none" /> &#x2022;They know they are special, and they believe they should be recognized for being unique.