The Baby Boomer generation continues to play a major role in the housing market, as well as the U.S. economy more generally. Older households are less likely to move and purchase homes, but their sheer size and relative wealth means this generation will account for $1 out every $4 spent on new home purchases or rent in the next five years.
Once the novelty of retirement wanes, many retirees ask themselves: how do I fill the extra free time? Nearly half of all respondents (45%) in a Nielsen global survey of online consumers across 60 countries say that eating healthy is the most important priority after retirement. Other top priorities include staying physically and mentally fit (78%), spending time with family (58%) and maintaining an active social life (37%).
More than twice as many say people around the world say their ideal retirement age is younger (36%) than what they plan compared to those who say it’s older (17%). So what’s causing the disconnect between wanting and needing to stay employed as we age? It’s likely a matter of finances.
Growing old is a fact of life, and most of us have at least a few concerns about how we’ll manage in our golden years. The biggest fears that the majority of us have pertain to not having the self-reliance it takes to care for our basic needs, losing our physical agility and declining mental competence. So how can industries help?
Millennials are the social generation, both online and in-person. As the founders of the social media movement, they’re never more than a few clicks away from friends and family. And offline, they prefer to live in dense, diverse urban villages where social interaction is just outside their front doors.
Around the globe, aging consumers’ needs are not being fully met. One in five people will be 60 years or older by 2050, and there are regional differences that are important to consider when reaching this valuable consumer segment.
Findings from the Nielsen Global Survey about Aging highlight consumer concerns about growing old and how product and service manufacturers and retailers are meeting the challenges that can arise with age. The findings highlight an array of needed improvements, and the most compelling are included herein.
While age is just a number, it’s becoming increasingly important to retailers, manufacturers and marketers as shifting population trends favor the elderly. According to new findings from Nielsen, however, industries are largely unprepared to meet the needs of aging consumers.
The world’s population is getting older and many consumers say the world isn’t prepared for the shift. According to the World Health Organization, 2 billion people will be at least 60 years old by 2050, which raises questions and concerns for consumers as well as industries.
It takes a lot to define a generation, and no two generations are alike. As much of the world is watching the second-youngest generations develop and become full-fledged consumers, marketers are placing more and more emphasis on how to engage with them. Most are children of Baby Boomers, and all are eager to carve out a unique identity as they come of age.
It takes a lot to define a generation, and no two generations are alike. As much of the world is watching the second-youngest generations develop and become full-fledged consumers, marketers are placing more and more emphasis on how to engage with them. So who are they and why are marketers and brands getting to know them?