Southwest Florida consumers spent more than $22.7 billion with retailers last year. The National Retail Federation forecasts 4.1% more will be spent this year.

Who are the shoppers that will be spending all this money?

According to Nielsen, 56% of retail dollars are spent by SWFL consumers over the age of 50. This may surprise many small business owners because older consumers comprise only 48% of the area's adult population.

These older consumers account for the majority of spending in almost every retail category. This includes furniture, cars, pet supplies, fast food, and electronics.

To earn a share of these massive dollars spent by these older consumers requires Fort Myers-Naples small business owners to advertise.

The first Baby Boomers were born in Southwest Florida during 1946, and they kept coming until 1964.  Today, this generation represents 22.1% of the population.

According to Visa, however, when it comes to the ability to buy goods and services from local business owners, people 50 and older are responsible for 56% of all retail spending.  In SWFL, that equates to $12.7 billion.

Forecasts from the Bureau of Labor Statistics indicate the spending power of the Baby Boomer generation will remain dominant through at least 2025. This is fueled, in part, by the Boomers' continued participation in the labor force.