How the Age Wave Will Transform the Marketplace, Workplace, and our Lives
In our quest for digital transformation and brand obsession with millennials, we may have left a backlash of ageism in our wake, and as a recent article in Forbes pointed out “Silver Isn’t Necessarily Second Best”.
Increasing longevity, declining fertility, and aging baby boomers are triggering an enormous age wave. This demographic tsunami has the potential to create tremendous marketplace and work/talent opportunities. The 65 + demographic is the product of decades of low taxes, high earning and productivity that has resulted in a tremendous out-sizing of spending power versus millennials, who are considered the least loyal demographic when it comes to brands.
The median household wealth of consumers 65 years and older is not twice, but 21 times that of households of those age 35 years and younger; furthermore, the highest concentration of wealth in the US is single, older women. When it comes to the 50 + market, they make up 44% of the adult population in the US and are responsible for:
While it’s great to create business models and technologies around young people, young people are broke, and as marketers, this attitude has perhaps removed brands from the understanding of what older consumers really mean to our businesses and yes, even to our growth trajectory.
We are addressing this important segment at the GRMA Growth and Innovation Forum, so brands can better understand the pressing social and financial challenges that comes with an aging society, how people use their newfound longevity. How they envision money, success, family, friends, work and purpose. How will a cyclic lifespan replace the traditional linear model, and what’s the most effective way to market and sell to “middlescent” boomers.
We invited Dr. Ken Dychtwald, one of the leading authorities and most respected experts on the aging of America.
For 35+ years, Dr. Dychtwald has emerged as North America’s foremost visionary regarding the lifestyle, marketing, health care, and workforce implications of the age wave.
A psychologist, gerontologist, bestselling author and a fellow of the World Economic Forum, Dr. Dychtwald’s innovative solutions have fertilized and catalyzed a broad spectrum of over half the companies in the Fortune 500 spanning automotive design and retail merchandising, financial planning and health insurance, pharmaceuticals and medical devices.
He was won numerous awards including recently being named by Investment Advisor as one of the 35 most influential thought leaders in the financial services industry over the past 35 years.
Dr. Dychwaldt will arm you with hard data and real-life examples illustrating why the new age wave should not be dismissed and why you should look at both your organization, your customer and your growth pipeline with a totally new perspective.