According to the latest How's Your Business survey, the average shop owner falls into the baby boomer bracket. Baby boomers are defined as those currently between the ages of 45 to 64.

Believe it or not, baby boomers make up the largest segment of our population. It is estimated that by 2002 baby boomer households will number 37 million.

Spending by the generations is predicted to increase according to the most recent Consumer Expenditure Survey. One prediction is that those in the mature market, age 65 and older, will increase their spending due to increased affluence.

According to TGE Demographics, baby boomers will begin spending more monies on themselves around 2002. At this point, most become empty nesters and the extra money is regarded more as disposable income.

It is predicted that consumer spending in 2002 on vehicle repairs, insurance and incidentals will average $2,229.20. That's close to the 1997 spending figure of $2,230.41.

Areas where the baby boomers are predicted to spend their extra funds in 2002 include entertainment (increasing 4.3 percent), household furnishings (increasing 4.6 percent) and vehicle purchasing (increasing 4.1 percent).

Those not looking to replace their cars include the 25- to 44-year-old "Generation Xers" whose vehicle buying days are scheduled to decrease by 3.9 percent in 2002.

Stat Corner is written by Denise Caspersen, ASA's research management specialist. She can be reached at (800) 272-7467, ext. 236.

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