Says who?
An article from The Vancouver Sun titled Aging boomers most lucrative market for just about everything.
With the front end of the baby boom on the cusp of their senior years and their parents already there, there's rising demand for just about everything relating to the aging population. And for research that help marketer's better understand older consumers.
"It's absolutely booming," says Michelle Pratt, a research associate at the Massachusetts Institute of Technology's AgeLab. "The fact that someone turns 62 every seven seconds means that this segment of the population is the fastest-growing, the most lucrative market. Companies know this demands a new approach to old age."
AgeLab is an example of an organization conducting this type of research and car makers, technology firms, health care providers, pharmaceutical companies, even a shoe company and Canadian funeral home have sought their expertise.
But every company better be prepared for the aging population. While five per cent of seniors are in institutions and completely dependent and ten per cent live at home with mobility limitations, the vast majority are doing fine and making their own purchasing decisions for products and services they need.
The message to me is companies must not only target their message to caregivers but also to the senior themselves.
This is one reason our soon to be released SeniorCareMarketer.com product helps marketers of senior care products and services target all the purchase influencer's - from the aging person themselves to their family members (who may purchase products and services on their behalf) to the broader healthcare and medical community.
SeniorCareMarketer has also launched it's own research report titled Where Senior Care Suppliers Spent Their Marketing and PR Dollars in the Last 12 Months and What’s Ahead which can be downloaded for free at SeniorCareMarketer.com .
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