New Report from BoomAgers and NMI analyses implications for marketers as millions of Boomers exit the workplace and return “home.”
According to the Pew Research Center the largest, wealthiest generation in history is now retiring at a rate of 10,000 per day, and this trend will continue every day for the next 17 years!
The better part of the nearly 80 million U.S. Baby Boomers are now in the process of “reverse commuting” – shifting their focus from the workplace to the home-place. As the time and resources that were once spent commuting and at work are reallocated back home, the dynamics of how the home is used and how lives are lived within it will undergo sweeping changes.
BoomAgers and our research partners at the Natural Marketing Institute believe that these changes represent a powerful marketing trend and thus a unique opportunity for companies to tap into fast growth by innovating and marketing products and services that align with newly emergent needs and desires.
In our new Thought Leadership Report — Marketing’s Next Home Run –BoomAgers and NMI offer a data-driven analysis that identifies the inherent — and not-so-obvious — opportunities and implications for both established brands and best-in-class emerging companies and offers specific guidelines for marketers that want to capitalize on the Boomer homecoming.
Google’s recent purchase of home systems innovator Nest Corporation for a reported $3.3 billion is just the “tip of the iceberg” and the latest indication that the re-migration to the home-place is setting the stage for an eruption of innovation and business growth. As the new “home-centric” Boomer lifestyle reaches its full scale, the implications for product innovation and marketing practices will be significant for years to come.