Struggling to get your head around the buying habits of the Millennials? The tech preferences of the Zs? Well, confuse yourself some more – time to meet the “echo boomers”.
According to a new US study, the echo boomers are people born around 1990. Why’s that important? Because that makes them 26 years of age and there are now more 26-year-olds than any other age group in the US. Some 4.75 million, in fact.
The study was done by Torsten Sløk, an economist at Deutsche Bank Securities, who argued the echo boomers are the ones that marketers and advertisers should be watching closely. In the coming years they’ll have an enormous sway over the economy as they take senior roles, have kids, buy houses etc.
Any why echo boomers? These kids are the children of Baby Boomers and their behaviour will “echo” that of their parents.
Sløk argued that 26-year-olds might presently be saddled with university debts and locked out of the property market but that will change. Plus, Millennials are already notorious big spenders anyway, with travel, eating out, fashion and tech all on their shopping lists.
“There are more 26-year olds than any other age group,” Sløk said. “This wave of echo-boomers will over the coming years get jobs and get married and increase their consumer spending.”