In the past few years, many American Baby Boomers (1946-1964) have begun to retire. As this generation retires, they begin to spend less and less. Meanwhile, Generation X(1965 -1980) has become more financially powerful than ever. As a result, Gen X now holds the buying power in America. This financial shift has not gone unnoticed by marketers. 

Gen X Buying Power

What generation is after Boomers? Generation X.

Generation X, or Gen X, is comprised of approximately 65.1 million Americans aging anywhere in their early 40s to late 50s as of 2021. Gen X individuals are well-established in their careers and most likely at the financial peak of their lives. This means that this generation holds a huge amount of buying power. 

Something else that contributes to Gen X’s buying power is that Gen X is known for the ‘family of 4’. Unlike the Boomer generation, in many Gen X households, both parents work and bring in an income. This has proved increased buying power for Gen X over the traditional Boomer ‘single earner’ incomes.

Gen X’s new-found buying power has made them the number one target for marketers. Advertisements have begun shifting in order to cater to Gen X. Whereas a decade ago, most advertisements were targeted towards the Baby Boomers. 

This marketing shift can be seen in the recent Superbowl ads (The Sopranos Chevy commercial, General Motors’ Austin Powers commercial, etc.). Even the half time show seemed to reach out to Gen X as the target audience. Marketers are beginning to catch on to Gen X’s buying power and tailoring commercials that’ll poke at Gen X’s nostalgia or appeal to their interests. 

How to Market to Gen X

Now that Gen X’s buying power is quickly surpassing the Baby Boomer’s buying power, ads need to adjust accordingly. Marketers should focus on catching the attention of Gen X and engaging with them. 

So, how should marketers target the generation with all of the buying power? As mentioned previously, advertisements should consist of content that draws on Gen X’s life experiences and anything else that will engage the generation. 

The Superbowl Chevy commercial is an excellent example of this. The commercial opens with The Sopranos theme song and pans to Jamie-Lynn Sigler, who played Meadow Soprano on the HBO series. Sigler drives through lower Manhattan and New Jersey in an electric Silverado—in the same fashion as Tony Soprano did in the original show’s opening credits. She then arrives at the same restaurant where the show’s ambiguous ending took place, to meet to meet Robert Iler (Meadow’s brother, AJ). 

The reason this advertisement targets Gen X so well is because it draws on their nostalgia and appeals to their interests. The Sopranos aired from 1999-2007. Gen X would’ve been anywhere from age 20 to mid 40s while the show aired—meaning that Gen X was most likely the hit shows biggest audience. By airing an advertisement that appeals to Gen X, the Chevy marketing team did an excellent job of targeting the generation with the most buying power. 

Though targeting Gen X is more than just the content of the advertisement. It’s also about where these advertisements are placed. For example, a majority of Gen X is using social media, compared to Boomers who are not. So, while social media may not have been a big focus for marketers when Boomers had the buying power, it certainly should be now.

Gen X also prioritizes exclusive deals, discounts and rewards much more than the previous generation did. Incorporating these kinds of things into advertisements will help to better target Gen X. 

Target Gen X with Your Ads

If as a marketer you haven’t already shifted your target audience to Gen X, you’re missing out on a lot of buying power. Gen X is the new marketing power play and advertisements should reflect that. 

If your business needs some assistance creating successful ads that will target audiences with the most buying power, Follow the Eyes can help. We are a full-service ad agency with a knowledgeable team of experts. Contact us today for a consultation.