Soloman's Answer

The market impact of boomers! 

Having looked at many resources on the generation of 'Baby Boomers', there is a common message being repeated that 'The Baby Boomers will continue to grow older for the coming decades'. Solomon, (2011) This is proven by the United Kingdom Population Pyramid which shows the predictions based on the age and sex distribution for the specific years. Nation Master (2003) 

United Kingdom 2010: 

 

United Kingdom 2020:

From these population pyramids it shows the continuing growth of the 'Baby Boom' generation over the years. This could be due to lifestyle choices that were made by this population in their earlier life, which will have an outcome on their decision making in future life. An example of this could be seeing people when they were younger die at a younger age, so will now find ways to extend their life by improving their health.   

The increase in proportion of older citizens and decrease in the youth is referred to as the 'greying and de-greening of the European population', this trend has a implication for the marketing of goods and services.

Being a teenage during post war times, was a memorable occasion, this generation created a revolution in style, politics and consumer attitudes, Things such as cultural events have influenced culture in today's society.  History was created in many ways  as it was the year 1952 when 'King VI' passed away and 'Princess Elizabeth' became Queen at the age of 25

Queen Elizabeth II

The 'Grey' Market

There's a stereotypical image that the general society have about the elderly consumer e.g. old fashioned (Bon Marche comfort over style), Bird feed and lavender soap wash. Well it's lies, at least for the majority of the population. They are the most important part of the society to the marketers. Times have changed and so have they now they are more active, interested in what life has to offer, and is an enthusiastic consumer with the means and willingness to buy many goods and services. Basically to sum it up they've got the power. 

This stage of their life they are thinking about plans to retire or have already retired and are thinking  what to do with all their free time. Many want to feel and look younger and so are joining health clubs and doing sports classes. With this in mind more and more businesses should consider focusing more on the older market they are in better financial state than most of society, and therefore could have a major impact on the success of failure of your business.