We’ve Reached Peak Gen X
Douglas Coupland’s novel, “Generation X: Tales for an Accelerated Generation,” was released in 1991. It’s 27. A fateful year for dead rock stars. Curt, Jimi, Janis, D. Boon. But I digress.
We’ve been counting and characterizing audience segments by this generational calculus ever since. So, what does Gen X look like in 2018?
It’s pretty much all come true. Household income. Economic mobility. Social well-being. Happiness. Family. Across the board Gen X fell behind its predecessors.
Millennials have already surpassed Gen X in “retirement readiness.” Median retirement savings for Gen X is only $35,000. That’s frightening.
Gen Xers are projected to outnumber Boomers in 2028, when there will be 64.6 million Gen Xers and 63.7 million Boomers. So they continue to be an audience worth cultivating.
And the Boomers are aging out of the workforce. A Georgetown University study estimated that by 2020 there were be about 30 million more job openings based on Boomers retiring.
However, brands will need to commit resources to capturing them during a closing window of opportunity. Gen X will run out of time to pivot into a financially secure approach to their tarnished golden years.
Sources:
Allianz Life New Generations Ahead Study
https://www.allianzlife.com/about/news-and-events/news-releases/Generations-Ahead-Study-2017
Pew Research Center
http://www.pewresearch.org/fact-tank/2018/03/01/millennials-overtake-baby-boomers/
Generation X: Tales for an Accelerated Generation by Douglas Coupland
https://www.coupland.com/books/generation-x-tales-for-an-accelerated-culture
Transamerica 15th Annual Retirement Survey 2014
https://www.transamericacenter.org/retirement-research/15th-annual-retirement-survey/three-generations-infographics/three-unique-generations---generation-x
Forever 27 Club — Stars who died at age 27
https://spinditty.com/artists-bands/The-dead-at-27-Club
