You probably already know that this is a big oversimplification. The higher Boomer age groups especially display huge disparity. Multiple factors drive that: wealth and financial capability, health and housing, to name a few.
This is a cohort that simply can’t be ignored: over 65s account for nearly 20% of the UK population, and that’s set to increase dramatically, to nearly 25% by 2046.
But we should never assume the members of a segment based on demographics are all the same. A person’s attitudes towards food and drink, clothing, personal care, diet and exercise, financial products and technology will vary among Boomers – just as it will within the Millennials and Generation X.
If we aren’t going to use these crude generational labels, how should we seek to understand and target different groups? Over the years, many alternative models have come and gone, but none has replaced demographics as a mainstream framework.
Geodemographic models like MOSAIC can be useful for some forms of targeting, but not everyone in a specific group conforms exactly to what is typical of it. The sheer number of MOSAIC types also makes it difficult to grasp them quickly.
Some companies have developed bespoke segmentations, based on one aspect of people’s lives – for example their digital savviness.
While these can be useful, they can also be too broad, or too tightly focused on their own specific offer to be useful elsewhere.
It seems clear that the most relevant, and the most powerful, way to understand users of a particular brand or service, of consumers at large, and of society in its widest sense, is to create a segmentation of your own.
But beware sweeping demographic generalisations. Don’t assume that 'oldness equals sameness.'
And be very, very careful with labels.