One of the most significant sociocultural trends that businesses are observing is the “graying” of the baby boomer population. This demographic group has long been coveted because of their willingness to consume. However, as boomers have aged, it was feared that older consumers would be more difficult to serve.
Not so, according to aging expert Paul Irving. In his article
“Aging Populations: A Blessing for Business”
, he talks about the needs of this significant demographic and addresses some widely held myths about older consumers.
- Identify an industry that could seize the opportunity to create products or services that appeal to the desires and meets the needs of Baby Boomers. Why is this industry poised to serve this demographic segment?
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