September 10, 2005
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Many of the 79 million Baby Boomers are transitioning into “empty nesters.” But the next great growth wave, the Echo Boomers (ages 10-27), offers imposing brand growth potential for brand managers and retailers who understand the motivations and preferences of this 75-million consumer segment.
Key will be examining Echo Boomers’ shopping and purchase behaviors, says Janet Eden-Harris, Global Chief Marketing Officer at Information Resources Inc., a market information solutions provider.
Based on IRI’s research, here are some factors that could influence package design for products targeted to Echo Boomers:
• Supercenters, emphasizing value, capture a significantly greater share of Echo Boomer consumer products spending than that of the overall population.
• Due in part to one-stop shopping trips at supercenters, Echo Boomers visit stores far less often than the average shopper. Reaching them through in-store marketing will be more challenging, and impulse categories may suffer.
• Strong spending indices among Echo Boomers with kids indicate significant long-term growth opportunity for many convenience-meal categories, such as refrigerated lunches and dry packaged dinners.
• Most Echo Boomers, while mindful of their weight, appear to be less concerned about chronic diseases than older consumers. They are less likely to seek out products with packaging touting specific health benefits.
Read the IRI report “Echo Boom Young Adults—The Next Growth Wave.”