BabyBoomers

Get Used to Shorter Spa Treatments (for Now)

Filed under: Spas

The stress of working and living under tough economic conditions is enough to trigger the urge for a trip to the spa. Unfortunately, there just isn't enough cash around to lay out for that perfect facial or relaxing massage. Rather than give up, however, most Americans are compromising. Shorter treatments are becoming more common, as many realize that something is better than nothing.

In June this year, the International SPA Association found that treatments lasting 30 minutes or less grew in popularity. Forty-six percent of the ISPA's 3,200 members reported an increase in these shorter services ... and close to have saw the amount spent per visit fall year-over-year.

Interestingly, there is a changing of the guard afoot among spa visitors. In the past, Baby Boomers were the most frequent spa-goers, but Generations X and Y are starting to see the benefits of relaxation, according to a study by SpaFinder. For many spas, this may require a change in design and treatment menus, as younger guests may not be soothed in the same ways their parents were.

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Tags: aging, anti aging, AntiAging, baby boomers, BabyBoomers, facial, gen x, gen xers, gen y, generation x, generation y, GenerationX, GenerationY, GenX, GenXers, GenY, massage, resort, resorts, spa, spa retreat, spa treatments, SpaRetreat, spas, SpaTreatments

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Millennial Hipsters Outpace Gen X in Buying Power

by Tracy Chait (RSS feed) —

Filed under: Wealth

The new generation of twenty-something hipsters are creative, counterculture and serious consumers. Part of their ability to support the indie brands they love (Urban Outfitters, Steven Alan) is due to parentage: these hipster-ish Millennials are baby boomer kids, and baby boomers boast annual spending power of $2 trillion, much of which goes to offspring wants and needs. And there are about 70 million Millennials -- about one and a half times the population of Gen X -- with their collective eye trained on Vice's Dos and Don'ts.

[via Forbes]

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Tags: baby boomers, BabyBoomers, buying power, BuyingPower, creative class, CreativeClass, hipsters, urban outfitters, UrbanOutfitters

Charitable Giving's Big Spenders: Generation X

by Tracy Chait (RSS feed) —

Filed under: Charity, Big Givers

A recent survey concluded that, among millionaires, GenX'ers aged 28 to 42 gave twice as much to charity as their parents last year. The survey found that, on average, members of Generation X donated $20,000 each to charity, while Baby Boomers donated closer to $10,000 per person. The younger generation was also more likely to make donations during their lifetimes, donate globally and choose foundations that would focus on family-related goals. Not surprisingly, they were also found to be more likely to make financial contributions online.

[Thanks, Ben!]

Tags: baby boomers, BabyBoomers, charity, gen x, generation x, GenerationX, GenX, philanthropy, private wealth, PrivateWealth

Luxury Cruising Fueled by Baby Boomers

by Rigel Celeste (RSS feed) —

Filed under: Luxury Travel & Hotels, Yachts & Sailing

It seems that baby boomers are loving luxury cruises, and as a result the luxury cruise lines are not only managing to hold their own amidst this country's economic difficulties but are actually doing so well they're looking to expand and grow. They're buying new ships, remodeling existing ships, adding new gourmet foods to the menus, adding new ports to the itinerary ... all with the intent focus on attracting the affluent baby boomer group that is currently spending their money on the less premium cruises like Princess and Celebrity. The "in" cruises now are most likely through Regent or the soon-to-be fleet leader, Silversea.

They say once you go luxury cruising, you never go back!

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Tags: baby boomer, baby boomers, BabyBoomer, BabyBoomers, cruise, cruises, luxury cruises, LuxuryCruises

"Young Affluents" Are The Future Of The Luxury Market

by Rigel Celeste (RSS feed) —

All industries must grow and evolve with the times, and the luxury market is no different. Used to catering to the "Baby Boomers," the luxury market is slowly (but surely) feeling a shift towards the younger generations, or the "Young Affluents." Referring to those age 40 years old and younger, the "Young Affluents" group includes Generation X and the Millennial generation, and they both have much different spending habits than their parents and grandparents.

Even though some adjustments will need to be made regarding different tastes and attitudes, the industry is hardly upset by this developing trend. With a "want-it-all" attitude the Young Affluents spent an average of 32% more than the Baby Boomers last year, and there is no sign they plan on slowing down.

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Tags: baby boomer, baby boomers, BabyBoomer, BabyBoomers, generation, generation x, generations, GenerationX, luxury, luxury market, LuxuryMarket, millennial, young affluents, YoungAffluents