Forget Millennials, T-Mobile Goes Cheaper for Seniors

Forget Millennials, T-Mobile Goes Cheaper for Seniors

While retailers in both the digital and physical world have seemingly become obsessed with reaching millennial shoppers, older generations still have a lot of purchasing power. In fact, Generation X, those born between 1965 and 1980, has the highest annual spending per American household, averaging $66,981, while millennials, defined for this info as those born 1981 through now, come in third at $47,114, according to a Bureau of Labor Statistics (BLS) blog. Baby boomers, people born between 1946 and 1964, have the second most at $59,646.

With the youngest boomer now 53, most of that age group has crossed the 55+ mark, a group being targeted by T-Mobile (NASDAQ: TMUS) in a new promotion. The wireless carrier has essentially created a senior discount for people 55 and older, a group it says it has a less than 10% share of currently.

T-Mobile wants a bigger share of customers over 55. Image source: T-Mobile.

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Source: Fool.com