Here are some interesting facts.
The U.S. census bureau estimates:
•1. There are approximately 79 million Baby Boomers in the United States today.
•2. Boomers today represent 28% of the U.S. population.
•3. There are now more than 33 million Americans 65 or older, representing nearly 13 percent of the population.
•4. About 7,918 people are turning 60 everyday. That amounts to 330 every hour.
•5. The number of baby boomers living in 2030 is projected to be about 57.8 million; 54.9 percent would be female.
Bearing this in mind, have you thought about, or have you already commenced, marketing your business or services to this growing market segment? While today's economy is adjusting and many business models are failing or contracting, some businesses focusing on the "Boomers" are growing at a 40% clip annually; and this is expected to continue for another 30 years!
Whether it is senior housing, assisted living, reverse mortgages, medical alert devices, or skilled nursing services, all of these are capitalizing on the aging Boomers.
In recent years I have seen more and more developments, residential and commercial, designed and constructed to cater to the future needs of this aging population. It may be access and egress, personal saftey issues, proximity to medical services or other recreational amenities but more and more developments are targeting Boomers.
In the retail industry we can look at the increase in sales of two big ticket items, Harley Davidson Motorcycles and Motorhomes/RV's, as two segments of that have experienced increases in sales from at least partly attributed to Boomers. Smaller ticket items are medical alert devices, pill dispensers and hearing aides. Combined, these are billions dollars of sales, wouldn't it be nice to have a part of it? Share your thoughts on marketing to this demographic.
Be well and be wealthy.
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