Power Boomers
In ancient and tribal cultures older members of the community are seen as leaders by pure virtue of experience and being the "wise elders." Yet marketers have dismissed the Boomer set believing that pensioners are quietly aging on golf courses and taking an early dinner, but in 2017 this generation is not taking it easy, no they are Power Boomers. Power Boomers are more productive later in life with a positive approach to aging. It is time for brands to ditch outdated ideas about retirement, and see boomers as entrepreneurs and explorers.
"In 2015 24% of new entrepreneurs in the US were boomers." Their experience is an asset and they are choosing to forego ageism in the workplace by bringing their own ideas to fruition. Power Boomers are experiencing a void in the marketplace and capitalizing on it by bringing forward dating apps, travel services, and music festivals geared towards them.
Source: The Kauffman Index 2016
Desert Trip or as the cool kids call it- Oldchella, is a music festival for those enjoying their "later lifestyle". It is Coachella for the classic rock set. It still occurs in Indio, glamping is encouraged, along with yoga, and shaded culinary dining. And TBH you can't beat the lineup.
Many retirees are experiencing free time for the first time, with an anticipated 2.5 trillion hours of leisure time to fill over the next 20 years. Free time that will allow them to explore the world and also invest in any of those past daydreams. Boomers are taking classes and workshops at higher rates than before, they are also hitting the gym. My mother is taking a boxing class and loving it! Retirees in the US are estimated to spend $4.6 trillion over the next 20 years on leisure, according to a report from Bank of America, Merrill Lynch and Age Wave.
The Freebird Club is a social travel & home-stay club exclusively for the over 50 set. It's Air B&B for grownups. Members can become a "host" earning extra income by making that spare room available to others and as a "guest" members can discover a new city or country, all within the Freebird Community.
Stitch.net is more than just a dating site, it is a community building adventure. This is Tinder for romantic or non-romantic companionship. With an international network, boomers are able to explore friendships in their city or go on a group travel event. Some find love, some find their #squad.
Companies like Ageist, an online visual magazine ripe with interviews and photos of people over 50 living their best lives, offers an opportunity for brands to explore this generation's true self. Ageist is a who's who of movers and shakers either reinventing themselves or claiming the title of a true badass by owning their age and the experience that comes with it. Ageist offers services like consumer insights, market research, and content creation aimed at the Power Boomer.
We all know the old adage "age is just a number" Power Boomers are teaching all of us a thing or two about owning your age and aging well.