Skip to main content

Baby Boomers is a Lucrative Segment for You to Create Value



One lucrative market segment for you to create value, is baby boomers - the approximately 176 million consumers born between 1946 and 1978. Though baby boomers represent a wealthy target, possessing $ 6.2 trillion in annual spending power controlling three-quarters of world wealth, viewers of over 50 refers to as "undesirables", because advertisers are primarily interested in 18 to 49 years olds. Yet with many baby boomers into their 60s, and even the last wave turning 40, demand for products to turn back the hands of time has exploded. Half of all baby boomers were depressed that they were no longer young, and nearly one in five were actively resisting the aging process. As they for the fountain of youth, sales of hair replacement and hair coloring aids, health club memberships, home gym equipment, skin-lightening creams, nutritional supplements, and organic foods have all soared. Further more, contrary to conventional marketing wisdom that the brand preferences of consumers over 50 are fixed, baby boomers are willing to change brands in line with the total population. The boomer market will grow in importance in the coming years: the proportion of adult in 65 will be 20% in 2020.

Comments

Post a Comment

Popular posts from this blog

What is Biri marung?

Biri marung" is a term in Chewa/Nyanja, a language spoken in Zambia, Malawi, and parts of Mozambique. It directly translates to "hyena in the sky" or "flying hyena.  It is often used in folklore and traditional beliefs in African cultures to refer to supernatural beings or mysterious occurrences, particularly those associated with witchcraft or spirits. In music, "Biri Marung" is a popular Amapiano track released in November 2024 by South African artists Mr Pilato, Ego Slimflow, and Tebogo G Mashego, featuring Sje Konka, Focalistic, DJ Maphorisa, Scotts Maphuma, and CowBoii.  The song has gained significant attention, with its official audio available on YouTube.  Additionally, it has been featured on various music platforms, including Apple Music.  The track has also inspired dance challenges and covers on social media platforms like TikTok, contributing to its viral status.  "Biri Marung" has been recognized for its impact in the music industry...
Post a Comment
Read more

The Seventh Generation of Computers

After the sixth generation of computers, which focuses on artificial intelligence (AI), quantum computing, and nanotechnology, the next generation will likely explore seventh-generation computers or beyond. These might include: 1. Quantum Computing at Scale Fully functional and accessible quantum computers capable of solving complex problems exponentially faster than current computers. 2 . Bio-Computing Computers that integrate biological components, such as DNA-based processors or neural tissue, mimicking human brain functionality. 3. Artificial General Intelligence (AGI) Computers that exhibit human-like cognitive abilities, understanding, learning, and reasoning in a general, adaptable way. 4. Neural Interfaces Direct brain-to-computer communication, allowing seamless interaction with technology using thoughts alone. 5. Molecular and Optical Computing Advanced technologies using light (photons) or molecules for faster, energy-efficient processing. 6. Self-Evolving Systems Machines t...
Post a Comment
Read more

Subcategory Competition could help firms deliver high sales; think Chobani!

In the future, branding and business in general is going to involve more subcategory creation and competition and less “my brand is better than your brand” competition. This is because, with rare exemptions, that is the only way to achieve real profitable growth. In category after category, real growth results not from market share increases, but from brands that have created a set of “must haves” that define a new subcategory and then manage that subcategory by becoming its exemplar. These brands continue to innovate and create a moving target. By managing the perceptions and attitudes toward the subcategory, the subcategory wins. I’ve previously discussed in my blog and my book, Brand Relevance a host of examples of brands that have created subcategories and won a subcategory battle. The Chrysler minivan, Asahi Super Dry, Enterprise-Rent-a-Car, Muji (the no- brand retailer), Patagonia, Zipcar, Tesla, Red Bull, IKEA, Gillette razors in India, the list goes on a...
Post a Comment
Read more