Attention marketers: it’s time to wake up and start showing some love to the baby boomers!

Nielsen estimates found that less than 5 percent of brand advertising is geared toward them.

However, recent surveys show that the 55-64 age group outspends the average consumer in essentially every category: eating out, household, entertainment, personal care and gifts!

Which makes perfect sense, as many are likely recently retired or getting ready to retire. Any student loans are surely paid off, mortgages are likely paid off, and some may already be retired and cashing in on those 401k’s or pensions. Not to mention the fact that any children they may have are likely grown and supporting themselves financially now.

Many companies may steer away from marketing to the baby boomers as they aren’t as technologically advanced as the Gen X and Gen Y crowd. However, Nielsen research also found that new boomers dubbed as “techno-boomers” are actually 40% more likely to use an iPhone (mirroring Gen X).

Sounds like a missed opportunity to me. Maybe it’s time for marketers to re-think their target audience.