Business Opportunities Weblog

September 19, 2008 by Rich Whittle | 2 Comments

Forbes:

The 77 million baby boomers (adults aged 44 to 62) represent one-quarter of the U.S. population–and a whole lot more of its buying power.

Boomers generate $2 trillion in annual income, own more than 70% of U.S. financial assets and represent half of all discretionary spending, according to Age Wave, a San Francisco-based demographic-trend tracker. “Although marketers tend to pursue the youth market, that’s not where the money is,” says Age Wave founder Ken Dychtwald.

There are hundreds of ways entrepreneurs can tap this massive market–from small shops started on a shoestring to larger operations that require serious capital. Not surprisingly, hot areas in boomer-land include anything to do with health and appearance (their own or their parents’), real estate and maintaining a fulfilling lifestyle.

Embodi, a Chicago-based beverage maker, has boomers in its sights. Its marketing strategy: Sell all-natural, antioxidant fruit juices that promote a stronger immune system and weight loss.

“[Younger consumers] don’t have any sort of long-term health focus,” says Waters. “They want immediate-impact energy drinks. Baby boomers, our target audience, are focused on health, and they’re willing to invest in [it] long-term.”

Unlike their parents, who sought (and could afford) early retirement, many boomers will work well into their 60s. That means looking good, feeling healthy and finding enough time to take care of their aging parents, all at the same time.

Read more.

Photo by Embodi.

In Uncategorized | 2 Comments
Tags: Advice, Baby Boomers, Strategy