Boomers: Losing Their Quest for the Fountain of Youth? One More Reason Why Marketers Still Need to Target Boomers

Were people age 50 to 64 a decade ago healthier than Boomers of the same age today? A recent analysis of disability data from the National Health Interview Survey, a nationally representative survey of health issues for Americans, suggests that may be the case.

Researchers from the RAND Corporation and the University of Michigan found that significantly more Americans in the 50- to 64-age group were reporting disabilities related to mobility in 2007 than in 1997. For instance:

• More than 40 percent of people aged 50 to 64 reported that, due to a health problem, they had difficulty with at least one of nine physical functions; many reported issues with more than one.

• Over the study period, researchers noted a significant increase in the number of people reporting that a health problem made it difficult for them to stoop, stand for two hours, walk a quarter mile or climb 10 steps without resting.

• There also was a significant increase in the proportion of people who reported needing help with personal care activities of daily living such as getting in or out of bed or getting around inside their homes.

Particularly troubling was the increase in the number of reasons cited for the disabilities. From 1997-2005, neck and back problems, diabetes, and emotional issues such as depression, anxiety, or other problems were the most common causes. By 2005-2007, arthritis and rheumatism had been added to the list; with many respondents reporting that their disabilities had begun in their thirties or forties.
Whatever the reasons—obesity? Too little exercise? Too much tennis, golf, skiing, or marathon running? —it’s clear that as 78 million Baby Boomers head toward age 65 and beyond, this trend has the potential to overtax an already stressed health care system. At the same time, it presents real business opportunities for those focused on healthy lifestyle products and services. 
Source: Renée Despres, Senior Editor, ehealthMD.com

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: There’s No Place Like Home – One More Reason Why Marketers Still Need to Target Boomers

According to a study by Opinion Research Corporation for AARP, nearly 80 percent of Baby Boomers say they would like to continue to live at home for so long as they can. However, that same study showed that might not necessarily be the same home they live in now. A majority reported they intend to stay in a one-level home, relocate to one, and/or downsize. Homebuilders, home remodelers and realtors, take note.

Source: Asheville Real Estate Journal

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: Changing the demographics of aging. – One More Reason Why Marketers Still Need to Target Boomers

Over the next 10 years, as Early Boomers move to age 65 and beyond, there will be a 50% increase in the number of people 65 to 74 years old—a growth rate for that cohort not seen in more than 50 years. In fact, those Early Boomers, currently numbering about 36 million, have already swelled the 55- to 64-age cohort more in the past decade than in the previous 30 years. The result?  A demographic that’s the largest it’s ever been.

These very numbers insure that Boomers will change the very definition of aging, just as they have at every previous life stage. We see this presenting both a challenge and an opportunity for marketers who have been used to a more business-as-usual approach to targeting the senior market. Boomers are not all alike – and they most certainly are not like any generation that has preceded them.

Source: Met Life
http://www.metlife.com/assets/cao/mmi/publications/studies/2010/mmi-early-boomers.pdf

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers are Hip. Again!

Who says there are no second acts in American lives? Okay, F. Scott Fitzgerald did, but he didn’t know bupkiss about Boomers. In case you haven’t heard the news that’s been all over Twitter and the blogosphere in recent days, the venerable Nielsen Company has spoken: in their obsession with youth, i.e. consumers ages 18 to 34, “advertisers and consumer goods manufacturers have been overlooking a group that has tremendous buying power: the 78 million Baby Boomers in the U.S. today.” The prescient few who found their pronouncements on this very topic ridiculed or ignored—where have you gone, JWT Boom?—are justifiably saying, “we told you so.” 

Why the sea change in opinion? Sure, Baby Boomers are a huge generation – always have been; still will be for quite a while. But I think a major reason is that at the same time that Boomers reached the age where a generation would previously have been considered old, the goal line was moved considerably. What I mean is that people who are 60-65 today just don’t behave the way people of that age did in the past, (nor do the current crop of 70- and 80-year olds, for that matter.)

The conventional wisdom? People over 60 spend little; are stuck in their ways, technologically challenged, and winding down. The facts?  Boomers are open to new things and new brands. They are active; typically participating in ten or more activities on a regular basis. They are comfortable with technology because they’ve grown up with it. Heck, many of them are not even thinking about retirement – and those who are, are in the process of completely redefining it. Hence the term, encore careers.
If you’re still skeptical about the value of advertisers targeting the Boomer market, consider these Nielsen facts about Boomers
• Dominate 1,023 out of 1,083 consumer packaged goods categories
• Watch the most video: 9:34 hours per day
• Comprise 1/3 of all TV viewers, online users, social media users and Twitter users
• Time shift TV more than 18-24s (2:32 vs. 1:32)
• Are significantly more likely to own a DVD player
• More likely to have broadband Internet access at home

Not only are Boomers an excellent target for marketers’ existing products, they also provide an opportunity for new product designers who are able to respond to both the needs and desires of a population that’s still hip, after all these years. In a recent article on the blog Disruptive Demographics, Joseph Coughlin, Director of MIT’s Age Lab suggested that Boomer consumers are as captivated by fashion and fun as their younger cohorts, it’s just that Boomers demand function and value as well.

This has huge implications for businesses across a wide range of industries, from technology to housing, to healthcare. Personally, I think that any product that combines fun, fashion, function, and value would be of interest to all consumers. But then, I’m a Boomer.

– posted by Lynn Schweikart

CAN BOOMERS PUT THE HEALTH BACK IN HEALTHY EATING?

“Boomers are drifting into old age with poor eating habits and too little exercise…we do not have a healthy population moving into old age.”

That was the disconcerting message I got the other day while searching online for information on the relationship between aging Baby Boomers and health and nutrition. The source?  Shannon Proudfoot, Can West News Service in the Montreal Gazette. I was anything but reassured that Boomers are going to have an easy ride into old age.

Life expectancy for Americans has been growing with each generation. However, there are fears that this could be reversed during the Boomer generation. Obesity, with its associated chronic diseases, is beginning to rear its ugly head. According to S. Jay Olshansky, professor of public health at the University of Illinois, Chicago, “obesity in general is on the verge of causing an unprecedented decline in life expectancy in developed countries”. He predicts that Americans in particular will experience unprecedented health risks and that life expectancy will be reduced in the next 10 to 15 years.  Yikes!
 
Being a glass half full kind of guy, I immediately began to think of all the business opportunities that food manufacturers, restaurants, and supermarkets could generate from this negative forecast regarding the health of Boomers. To get a professional viewpoint on what was happening out there, I contacted Denise Kelly, RD, Director of Market Development-Healthcare, Lyons Magnus.  If anyone would have a handle on this situation, it would be Denise.

According to Denise, “the biggest concerns for an aging population are obesity, hypertension, diabetes, and bone health. Simply by increasing activity and making some simple dietary changes, Boomers can get back on track, live healthier lives, and reduce the need for some medications.”

One of the biggest “Hot Buttons” for the food industry right now?  According to Denise, it’s helping consumers battle hypertension by reducing the amount of sodium in prepared foods, while still providing a flavorful product. “Even though the recommended daily allowance for sodium is less than 2300mg/day, most people consume nearly 1½ to 2 times that amount, primarily by eating prepared foods or dining out,” Denise stated.

While manufacturers are beginning to respond, it’s not by marketing their products as “low in sodium”. Instead, they’re simply gradually reducing over time the amount of sodium in their products.  According to the Wall Street Journal, (“Food Makers Quietly Cut Back on Salt,” 1/11/10) “ConAgra said that by 2015, it would lower the sodium level in about 80% of its products by an average of 20%. Sara Lee Corp. made a similar commitment. Campbell Soup, which has focused broadly on reducing sodium for at least a decade, says it has already reduced sodium in the top-selling products in all its categories by nearly 24% since 2001.” It’s a small start – there’s a real opportunity for the food industry to discover how to keep flavor up while bringing sodium content down.
Besides watching their sodium intake, Boomers at risk for obesity and diabetes need to monitor their serving size (portion control) to reduce caloric intake as well as choose their foods wisely. “A healthy diet would include fruits, vegetables, whole grains, fish and poultry with limiting red meats and replacing butter with healthy fats like olive oil or canola oil,” Denise said.
 


"The food industry has worked hard to remove or reduce refined grains in cereal and breads and add whole grain and fiber. Vegetables are disguised in delicious beverages to make consumption easier. Salad dressings are now made with olive oil." 

After speaking to Denise, it’s heartening to know that manufacturers are beginning to take action and respond to these chronic health problems that are directly associated with poor eating habits and/or obesity.  The opportunities appear to be limitless for food manufacturers, but they have the challenge of producing food products that meet all the necessary nutritional and caloric requirements while satisfying the Boomer palate.  The key to success is educating the Boomer about good eating habits.  Perhaps food manufacturers can incorporate an educational component into their marketing plans. If not, it will be the pharmaceutical companies that benefit.  But I’ll leave that discussion for another time.

Posted by Tom Gorski

Some Like It Hot: Especially Boomers.

Back in the early 70’s, I once ordered a shrimp curry dish at a local Burmese restaurant. “Mild, medium, or spicy?” the waiter asked. “Spicy,” I replied. The second I tasted the first forkful, it was like being hit with pepper spray. My eyes teared up, my tongue and throat burned, and no amount of water, milk, or bread could cool things down. That memory came back to me the other day as I tucked into an order of beef with long-horn peppers at my favorite Boston Chinatown dive, the Gourmet Dumpling House. “I’ve come a long way,” I thought.

Then again, maybe not. According to the National Institute of Health, we start out life with approximately 9,000 taste buds. These start to decrease beginning at about age 40 to 50 in women and at 50 to 60 in men.  Phil Lempert, the food market analyst who tracks consumer trends in supermarkets and restaurants and runs SupermarketGuru.com, confirms: "There's no question that as the baby boomers are aging, they're losing their taste buds, and as a result, they're drawn not only to more spicy foods, but to more flavorful foods of all kinds." Does that mean my love affair with chili peppers is due solely to diminished taste buds?

A look at the taste combinations showcased on this year’s Top 10 Flavor Pairings in the annual McCormick® Flavor Forecast™ offered another perspective.
1. Roasted ginger & rhubarb
2. Thai basil & watermelon
3. Caraway & bitter greens
4. Bay leaves & preserved lemon
5. Almond & ale
6. Turmeric & vine-ripened tomatoes
7. Pumpkin pie spice & coconut milk
8. Roasted cumin & chickpeas
9. Creole mustard & shellfish
10. Chives & fish sauce

Odd as some of those combinations may seem at first, I think the people at McCormick are on to something. I see these flavor pairings as replicating the tastes of some of my favorite ethnic foods – the cumin and chickpeas of North African tagines, Southeast Asian turmeric and vine-ripened tomato curries, Cajun-inspired Creole mustard and shellfish.

We Boomers were the first generation to have the opportunity to roam the globe, either in reality or through the pages of glossy food and travel magazines. In the process, a cohort raised on Wonder bread became enamored with pitas, tortillas, and naan – not to mention salsas and sauces loaded with flavor, intensity, and heat. And while I remember my parents and grandparents preferring blander foods as they aged, I don’t see Boomers going back. In fact, as Boomers continue to travel and indulge their sense of adventure by exploring new cuisines, we at Gen-Sights predict that their interest in bold, exotic flavors will only increase, no matter what happens to their taste buds. And because Boomers have big spending power, that means new opportunities for those in the food and restaurant industries. For instance, adding spices and other flavorings could be a way of reducing salt or sugar in packaged foods. Supermarkets could boost sales of prepared foods by serving up bolder flavors. Assisted living centers and nursing homes can differentiate themselves by appealing to Boomer palates accustomed to the bigger tastes of ethnic food—or at the very least, making sure there’s a big bottle of hot, hot, hot sauce on every table.


Posted by Lynn Schweikart