Many Baby Boomers are now entering into their 70s. Experts are touting global aging as the new big business opportunity. So how are businesses gearing up to reach this diverse, yet powerful group that are maturing en masse?
Mainstream media and entertainment are often good places to see changes afoot so let’s take a look…
In Beauty –
Boomers buy beauty brands and an ever growing roster of famous aging actresses is now flogging cosmetics, hair and skin care lines. Helen Mirren, Andie McDowell and Diane Keaton have lucrative contracts as product endorsements as smart cosmetic companies view for their share of the buying power of Boomers.
We can even see terminology now changing right before our eyes. The beauty industry is slowly becoming less ‘anti-aging’ and more ‘age-perfect’.
In Fashion –
A Boomer, Diane von Furstenberg at 70, shows no signs of slowing down. She continues her decade-old fashion line which is still highly regarded and coveted by all ages. She even has her own reality show ‘House of DSV’. Betsy Johnson, a senior at 75, refuses to act grown up and is still cart wheeling her way down her runway shows. For younger Boomers, magazines are once again filled with the supermodels of the 80’s including Kate Moss and Christie Turlington as they are more relatable younger Boomers as they are aging well too.
Messages in fashion magazines are more positive about again. InStyle features “Great Style has no age” which reinforces this gaining acceptance of older beauty.
In Movies –
Boomers like movies and actually spend money to see them in the theater in large numbers! Therefore new slew of films are soley aimed at and featuring Boomers and aging women. The hugely popular Book Club, with mega stars like Candice Bergen and Diane Keaton drew massive all-age crowds. Yes perennial favorite Meryl Streep continues to be a very bankable actress with her latest feature ‘Mama Mia, Here We Go Again’ however we are seeing more and more diverse roles for women. Mid-life mothers, romantic partners, vital heroes, fun and exciting multi-dimensional complex personalities that are still learning the lessons of life. While many films might not be Oscar worthy, they draw big audiences and actually make a profit. Who would have thought that aging female actors would now more in demand more than ever!
In Conclusion –
The Boomer bulge can be a boom for those savvy retailers and other businesses that are able to connect with these educated, affluent and aging buyers.
Boomer Branding is a marketing agency that specializes in driving boomers to business with their approach of B2B (Business to Boomers), key success principles. Visit their website at boomerbranding.ca