Tuesday, July 18, 2017

The economy is still all about -- who else? -- Boomers

Image result for baby boomer spendersHey advertisers! Take a break from fixating on Millennials and check this out: Baby Boomers and their elders are making up an outsize share of consumer spending.

The trend has significant implications not only for the biggest brands that are missing out on a lucrative audience but for an economy that continues to trudge along at a modest pace. It’s helping fuel a shift in household spending from retail goods to services, spurring more job growth but weaker worker output. And it’s contributing to the woes of retailers, such as Macy’s and Sears, that are closing hundreds of stores. The Commerce Department said Friday that retail sales unexpectedly fell in June.. . . more

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