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Motorcycles a Hit With the Mature Market Middle-aged baby boomers may not be stereotypical motorcycle enthusiasts, but the fact is they are driving the industry forward. It's just one more way in which this generation is abolishing expectations. When you think of motorcycle aficionados, what do you think of? Is it beefy, bearded Hell's Angels who have eschewed "respectable" middle class existence to pursue their passions? Is it a young Che Guevara, crossing South America and In the US today, the motorcycle industry is most interested in choice number three – baby boomers with plenty of disposable income who want to ride their bikes for years to come, and will spend as much money as it takes to get the most out of their hobby. Baby boomers, as has been well documented, commonly speak of plans to remain active and energetic as they slide through and beyond middle age. And they put their money where their mouths are: boomers have been the been the driving force behind two major expansions in motorcycle sales during the last 40 years, according to David Anders, a Merrill Lynch analyst in New York. Now, as they reach the zenith of their earning years, the boomers are an even more pivotal and attractive target market for industry executives and marketing pros. Currently aged anywhere from 40 to 59 years, boomer motorcycle lovers can easily look forward to at least another 10 or 15 years of riding, on average. The boomers are so important to the industry that even a 2 percent increase in motorcycle sales to this generation would result in about 750,000 new riders, conservatively estimated, claims Anders. And such an increase is thought to be fairly likely. After all, with their kids leaving home and retirement approaching, baby boomers are enjoying more time and money to indulge in leisure activities. Motorcycle registrations in the US increased from 3.8 million to nearly 6 million at the end of 2004. And, between 1990 and 2003, motorcycle ownership rates among baby boomers increased 44 percent, versus growth of only 6 percent outside the boomer target market.It's just more evidence to support the generally accepted theory that baby boomers want to take life by the horns every step of the way. The generation that made a phenomenon of Zen and the Art of Motorcycle Maintenance hasn't forgotten its love affair with the open road. Back To Mature Market News → Go To The GenerationTarget.com Mature Market Bookstore → |
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