Bad News For Me – Blogging is Out

While at a friend’s house yesterday, I caught a quick glimpse of an article in the Post-Dispatch with the title “Blogs Are Out, Social Networking Is In.” This is bad news for me since I’ve just starting blogging with any sort of regularity in the last three months. Being a closeted masochist, I Google-d the article today so I could revel in the pain.

Barry Levine, who wrote the article, tells us the sad news that those under 30 are blogging less. But it is not all bad news, because us “ol’ fogies” who are behind the times are actually blogging more. This survey launched my friend and I into an interesting conversation on who controls spending as a demographic in the United States and why we are so concerned with them.

It is easy to see that teenager – especially girls – are a targeted demographic who is eager to spend their money. Rewind a few months ago, when Avatar first came out and another friend was lamenting the inclusion of a love story into it. My response – what do you expect if they want to make any revenue on such an expensive film? Love stories are compelling and the people most likely to spend their money over and over again on the same movie like love stories with their action – i.e., Titanic.Ā  And who are these people lite on the action, heavy on the story that spend money? Teenagers (Might be worth looking at the top 10 gross revenue movies of all time with this argument. Accounting for inflation then “Gone with the Wind” is still the highest grossing movie ever – I think).

Back to blogs and the whimsical mind of the spending powerhouse. I think we are going to see a shift in who is targeted with technology. While I think teenagers, in general, are the easiest to part with their money that in the coming years a change of demographics will dictate different strategies. The two primary culprits, in my mind, for this are:

1. Retiring Baby boomers who are the first to have saved to retire and spend comfortably throughout their retiring years. Combine this along with advances in modern medicine so that people are living longer and we see a rapidly growing demographic who is going to look for an excuse to spend. While they may not be as prone to spend like teenagers (no one will) there are so many of them that they will become the major spending force in the next ten years (again my opinion).

2. The propensity of Americans to have less to no children means younger adults having more money to spend on themselves. Video Game Culture has a player who is now – on average – 30 years or older. I would contend the reason for the time and willingness to continue to play video games to 30 years being the average age of a video gamer is no or less children resulting in a tendency to spend money on personal recreational wants.

Two things that I think point to this trend:

The Kindle: There are all kinds of off-shoots, but the Kindle is becoming a revolutionary buzz in technology. In the last four months I cannot count the articles and conversations I’ve had with people on the Kindle. Disclaimer: I was not taking a poll. The demographic that the Kindle attracts is not teenagers, but adult avid readers. I would contend that that is primarily an over 30 crowd.

The Wii: Who knew grandma likes video games? Seriously. The marketing of Wii Fit and the versatility of the Wii has had incredible success with the older adults who do not see value in other video gaming systems.

It will be interesting to see if I’m right. If I am, I will be very interested to see what kind of cultural shifts this spending power might have. Not only with Tech gadgets, but also with programming. With the fanciful notion propagated by most television shows that wisdom is found in youth go to the wayside? Well, I’m watching…

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3 Comments to “Bad News For Me – Blogging is Out”

  1. “1. Retiring Baby boomers who are the first to have saved to retire and spend comfortably throughout their retiring years. Combine this along with advances in modern medicine so that people are living longer and we see a rapidly growing demographic who is going to look for an excuse to spend. While they may not be as prone to spend like teenagers (no one will) there are so many of them that they will become the major spending force in the next ten years (again my opinion).”

    Well, we baby boomers may have tried to save for retirement but many, many of us have watched those savings disappear over the last two years. I lost 60% of mine in a very short time. I predict that there will be little comfortable spending among us boomers during our retirement years and you guys better save a cot in the cellar for us. I could be wrong, I hope I am wrong.

  2. Well, I’m a big fan of keeping the older generation in our basement (or closet) when the time and need arrive. Rachelle and I are prepared to do so for all three sets of our parents – hopefully we won’t have to take them all in at the same time. šŸ™‚

    The loss of investments is big and no matter what you recoup it still won’t equal to what could have been had there been no recession. But I think that the growth of your demographic is so large it still will overcome this obstacle of frugal spending as far as being the major target of marketers of cutting edge devices. It will result in a difference in cheaper products being pushed in the sense of eating at a $20 plate restaurant instead of a $40 plate restaurant or going to Cape Cod for vacation instead of going to Hawaii. But we’ll see. I admit that I would like to see a change in demographic spending so there is a bit of hopeful thinking behind this argument.

  3. I hope you’re right.

    Never forget, I have an in-law šŸ™‚

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