Prominent culture gaps continue to emerge within the boomer market. A new Focalyst study concludes there are “significant differences” between Hispanic Boomers’ and the general boomer market’s perceptions and actions taken toward health care and finance. Focalyst’s report, “A Continued Look at Diversity Among Hispanic Boomers,” is a follow-up to a previous study from January, which focuses on 7 million Hispanic boomers within the United States.
Among the most notable findings, the study highlights Bicultural Hispanic Boomers, when compared with the general boomer market, as being most likely to be confused around health-related issues and to turn to alternative health practitioners and advertisements as “valued health-related information sources.”
Other notable findings, according to Focalyst include:
- Almost half of Bicultural Boomers and one-third of Acculturated Boomers have no savings or investments, compared to only 1 out of 4 General Market Boomers.
- Hispanic Boomers say they will spend an average of about $2,700 on household items in the next 12 months, about 25 percent more than General Market Boomers.
- Compared to General Market Boomers, the connected segment of Hispanic Boomers are more likely to be online for paying bills, education/training, job searches, instant messaging and downloading music.
- Hispanic Boomers do not think that keeping abreast of changing technology products is a hassle and they are more likely to upgrade their technology products on a regular basis.
- Hispanic Boomers plan on spending more on technology products than the General Market Boomer – about $1,350 in the next year, compared to about $1,100.