December 2023 – Markets, pharmacies and gas stations lead the consumption of baby boomers (born between 1946 and 1964) in Rio Grande do Sul, who have embraced new technologies and started spending more on Pix this year. The data is part of a survey carried out by Itaú Unibanco on purchases made by this generation, which currently comprises Brazilians aged 59 and over.
The study analyzed transactions carried out with credit cards and via Pix made from CPF to CNPJ between January and October 2023 – and the comparison with the same period in 2022. In the case of Pix, the survey only considered transfers that constitute a commercial transaction (from CPF to CNPJ).
In the period analyzed, baby boomer spending grew 58% over 2022, with a 39% increase in the number of transactions carried out. This is reflected in a higher average ticket of R＄300 – the highest among all ages, and the one that increased the most compared to last year. Considering all generations, baby boomers represent 27% of the value transacted and 20% of purchases – behind generations Y and X, but still ahead of generation Z, which has 3.7% and 8.2%, respectively.
Among the public aged 59 and over, women represent 33.6% of the amount spent, and men, 66.4%. Considering the number of transactions, they appear ahead, with 52.5% of purchases made. Men, however, have a higher average ticket, of R＄420 – while women’s is R＄192.
“The consumption profile of this generation reveals a consolidated preference for sectors that demonstrate a search for convenience and practicality. The survey aims to offer valuable insights into how this portion of the population directs their spending, revealing a diversity of interests and a balance between everyday needs and personal aspirations”, says Moisés Nascimento, data director at Itaú Unibanco.
What do baby boomers in Rio Grande do Sul spend the most on?
In the analysis of the segments, the data shows that the markets lead, with 23.7% of all purchases made by this audience. Pharmacies occupy second place, with 6.6%, followed by gas stations, which reach 6%, convenience stores, with 5.7%, and restaurants, with 5.4%.
Looking only at the other generations, markets also lead, but with a smaller proportion, representing 16.2% of transactions, followed by gas stations, with 6.3%, restaurants, with 6.2%, convenience stores, with 5.4% and fast food, with 4.9%.
The segments in which the older generation increased the number of transactions the most – both in payments with credit and with Pix – are spent on cell phone recharge, with an increase of 264%, tolls, with 162%, clothing stores and men’s items , with 155%, retail chains, with 112%, and lotteries, with 85%, and wholesalers, with 74.9%.
Do you accept Pix?
Considering only the use of Pix in Rio Grande do Sul, baby boomers were those who saw the biggest increase in the amount transacted between 2022 and 2023, 86.4%. In the number of transactions, the increase was 89%, but behind other generations. In other words: older people make higher-value purchases on Pix than other audiences, with an average ticket of R＄ 1,375 – that of generation Z, for example, is R＄ 101.
Men spend more on Pix – they are responsible for 83% of the amount transacted, and have an average ticket of R＄2,200, while women’s ticket is R＄487.
“Despite the number of transactions made with Pix having increased, the data shows that baby boomers still use the modality less than average. In generation, considering purchases made with credit cards and Pix, the first dominates payments, with 88.3% of transactions, and 11.7% of the second. When analyzing only the other generations, these numbers are 62.7% and 37.3%, respectively”, explains Moisés.
