Mature Market Experts Stat of The Day: Mature Market Experts LinkedIn Membership Climbs Past 300!

mature-market-expertsMature Market Experts: more mature market news and stats more often – Mature Market Experts LinkedIn Membership Climbs Past 300! I’ve been pleasantly surprised by the growth of our LinkedIn networking group. We are now the largest networking LinkedIn group for people serving the mature market. Our group connects investors, bankers, real estate developers, consumer goods companies, health care professionals, journalists and marketing experts who are interested in serving the boomer and senior marketplace.

Joining Mature Market Experts is simple and free:

To join the Mature Market Experts LinkedIn Networking group just click on the following link: http://www.linkedin.com/groupsDirectory?results=&sik=1228175683442 and type in to the search box “Mature Market Experts.”

As a member of the group, you’ll get to enjoy LinkedIn’s useful discussion tool that allows you to post questions for the group, as well has have text conversations.

To subscribe to the Mature Market Experts blog just click on the following link: https://maturemarketexperts.wordpress.com/feed/

To follow us on Twitter click on: http://twitter.com/trmann

Thanks again for following us, and feel free to contact me with any ideas or suggestions.

Warmest regards,

Tom

Tom Mann
Managing Partner, TR Mann Consulting
www.TRMann.com
410-292-4333
Tom (AT) TRMann.com


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Hot Trends In Marketing To The Boomer and Mature Consumer

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I’ll (Tom Mann of TR Mann Consulting) be there will you? I’m scheduled to speak at this upcoming event “Hot Trends In Marketing To The Boomer and Mature Consumer” being sponsored by The International Mature Marketing Network and The MRGA Market Research Global Alliance. The event is being held May 15th in DC. Best of all, I’ve arranged for Mature Market Expert (MME) members to get a special rate of just $425 if you register before March 30th (if you’re not already a member, just join up through LinkedIn . . . it’s FREE to join MME). Also, you should know that there are only 125 seats available for this exclusive event. Here’s the list of confirmed speakers:
Kevin Lavery
Executive Creative Director of MillenniumDirect, the leading resource of marketing and research services in the United Kingdom for the 50+ population and President of the International Mature Marketing Network. Kevin will be the events’ lead-off speaker.
Andrew Nibley
Chairman and CEO of Marsteller, the advertising interactive, event management and production unit of Burson Marsteller, the world’s leading public relations agency, Andy has been a President, CEO or Chairman in four different industries – news, internet, music and advertising.
Sandra Timmermann
Assistant Vice President, MetLife, and Executive Director, MetLife Mature Market Institute. In her role, Sandy is responsible for research, education and consultation on aging and the 50+ market for MetLife and its business partners.
Dr. Carol Orsborn
Senior Strategist with Vibrant Nation.com, an information sharing website for leading edge Boomer women. Carol has provided counsel to over 100 leading companies in a broad array of industries including AT&T, Pfizer Pharmaceuticals, Prudential, The Walt Disney Company, Hallmark and Visa.
Laurel Kennedy
Founder of the “thinking firm” (part think tank and part consulting) called Age Lessons. She has appeared on national television including CNBC and Comcast TV, and as a keynote speaker before numerous industry and corporate forums. She has consulted for such clients as Johnson Wax, Keebler, Kraft, Kellogg, Quaker Oats, Pepsi and Sara Lee.
Todd Harff
President of Creating Results, a strategic marketing, public relations and advertising agency that drives demand for lifestyle-oriented products and services. Mr. Harff is a nationally renowned expert in understanding and motivating mature consumers. Over the has 15 years, Creating Results has helped government agencies, not-for-profits, Fortune 500 companies and entrepreneurs in a variety of industries build relationships with boomers and beyond.
Jacob Brown
President of In-Depth Research, a strategic market research company specializing in Boomer/Senior Research, Healthcare Research and Technology Research. In-Depth conducts research for many leading companies, including Microsoft, Tivo, United Healthcare, Intel, Varian Medical Systems, Adobe and Disney.
Gerald Linda
President of Gerald Linda & Associates, a 15-year-old marketing consulting firm. The firm provides marketing strategy, planning and research services to a wide mix of large, sophisticated marketers as well as smaller entrepreneurial companies. A second service is adding advertising and public relation agencies with their new business and account planning efforts. His responsibilities have included providing marketing counsel and research needs for such clients as Miller Brewing Company, S.C. Johnson & Son, Inc. and BP Amoco.
Tom Mann
Managing partner of TR Mann Consulting, Tom is a recognized leader in the senior industry.  Previous to starting his own firm, Mr. Mann was the Senior Vice President of Advertising for Erickson Retirement Communities. In addition, he was the publisher of the Erickson Tribune, the nation’s largest monthly newspaper addressing health, active lifestyles for people 62 plus. His firm TR Mann Consulting specializes in advertising, marketing, communications and PR for Baby Boomers and beyond. Their clients include real estate developers, magazine publishers, the travel industry, and companies that sell consumer goods or services to the senior marketplace. Mr. Mann is also the founder of the Mature Market Experts Group.
Let me know if you plan on attending, I’d love to meet you.
Warmest regards,
Tom
Tom Mann, Managing Partner
TR Mann Consulting
Co-founder, Mature Market Experts

Mature Market Experts Stat of The Day: Baby Boomer Purchasing Power

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Mature Market Experts: more mature market news and stats more often: Baby Boomer Purchasing Power – Households with baby boomer members — born between 1946 and 1964 – account for nearly $230 billion in sales of consumer packaged goods (CPG) products and represent 55% of total CPG sales, a study by Nielsen and Hallmark Channel reports.

The research, which examined the CPG spending power and brand loyalty of baby boomer households, found that baby boomer households’ share of sales is 5 points higher than their share of population, according to Nielsen and Hallmark. 

Nielsen and Hallmark also tracked baby boomer purchases of over 6,500 brands measured by Nielsen’s Homescan consumer panel that have over 1% US penetration.  Of these brands, Baby boomers account for over 50% of sales for 72% of those brands.

Mature Market Tip: Start Saving Now – Assisted Living Crunch Predicted

<MED2097 Mature Market Experts

The mature market . . .  boomers . . . seniors, we write about them every day. Why? Because Americans are getting older – in fact, way older. We are on our way to a profound shift in our population; one which will have costly impacts on our nation. The U.S. Census Bureau projects  that by 2030, when all of the nation’s 76 million surviving baby boomers will be 65 and older, nearly one in five U.S. residents will be 65 and older. This age group is projected to double by 2050, increasing to 88.5 million from the 38.7 million we currently have in 2008. The Census Bureau projects that the 85 and older population growth will be even bigger, tripling from 5.4 million in 2008 to 19 million in 2050.

On the one hand it is pretty clear that there will soon be a lot of older Americans. So the next question is, how many of them will require assistance, and what type? Lest you think the impact will be small, consider this comment from the Dartmouth geriatrician, Dr. Dennis McCullough: “…nine out of ten people who live into their 80’s will wind up unable to take care of themselves, either because of frailty or dementia.” According to Dr. McCullough, “Everyone thinks they will be the lucky one, but we can’t go along with that myth.”

The International Longevity Center’s Caregiving Project for Older Americans is very concerned that older Americans are not doing enough planning now. The Center estimates that about 1.4 million older Americans currently live in nursing homes, nearly 6 million receive care at home, and significant numbers go completely without needed help. They report that “…the growing disparity between the demand and supply of care giving services will only worsen with the aging of baby boomers in this country.”

The National Clearinghouse for Long-Term Care Information says that “…at least 70 percent of people over age 65 will require some long-term care services at some point in their lives, and over 40 percent will need care in a nursing home for some period of time.”The Clearinghouse cautions that contrary to most people’s opinions, “Medicare and private health insurance programs do not pay for the majority of long-term care services that most people need – help with personal care such as dressing or using the bathroom independently.”

It doesn’t take much imagination to figure out that the coming demographic tsunami will overwhelm our assisted living, independent living, home care, and nursing homes infrastructures. Currently most assisted living facilities in this country report occupancy rates at 90% or higher. The New York Times reported recently that after several years of overbuilding followed by soft markets, “The National Investment Center found fewer than 23,000 units under construction in the 100 biggest metropolitan areas.” If you take an arbitrary average about 1.5 persons per unit, our future residential shortfall looks to be severe.

In another New York Times article Kathryn A. Sweeney, a managing director for United States Senior Housing for GPT Group, an Australian real estate company, was quoted in a similar vein about the eventual housing shortage: “If you plan to be a resident, you need to be saving your pennies now,” she said.”

About the Author: John Brady is publisher of www.Topeldercares.com.  Visitors to that site will find a directory of eldercare facilities, a Forum, and helpful articles on dealing with eldercare.

What To Do In A Bad Economy: Stop Marketing!

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My fellow Mature Market Experts, I thought I’d share a great take on the economy and marketing’s relationship by Charles Osgood (just click here). If you love Dr. Seuss, you’ll love this!

By all means, it you want to guarantee that you have no chance at success, stop or cut back your marketing and advertising efforts.

If, however, you are interested in gaining sales and market share in the boomer or senior market space, I recommend you contact some mature marketing experts (preferably my team at TR Mann Consulting).

PS  I’ll be speaking at and attending the International Council on Active Aging’s upcoming Conference (December 4th thru 6th) at the Henry B. Gonzalez Convention Center in San Antonio, Texas. Let me know if you’re attending, so that we can try to catch up.

 

Mature Market Experts Stat of The Day: Apparel

Boomer / Senior / Mature Market Stat of the Day – Women in the mature market have disposable income and a love of clothes:

“Boomers spent an estimated $42.7 billion on apparel in 2004. But they don’t wear the same sizes they wore at age 18. Clothing stores are opening across the U.S. that specialize in great-looking apparel for woman over age 35 – clothing that has verve as well as elastic waistbands.”

Source: Tapping the Boomer Marketplace, by Mary Furlong, 2007

 

“In fact, 40 percent of female Boomers say they like or love to shop for clothes, according to Cotton Incorporated’s Lifestyle Monitor™. And they shop for clothing 1.7 times a month. Compare that to GenXers (women aged 30-42), 45 percent of whom say they like or love to shop, and go out shopping 1.9 times a month.

In 2006, Baby Boomers accounted for 35.3 percent of unit sales and 33.3 percent dollar sales of apparel, according to data from NPD Fashionworld’s AccuPanel. In the first three months of 2007, unit sales of apparel for this age group declined 3.3 percent but dollar sales increased 3.0 percent.”

 

Source: Cotton Incorporated, The Big Boom Theory

Coining a new term, “Boomer Alley”

The Baltimore-Washington corridor is quickly becoming “Boomer Alley” (Silicon Valley has nothing on us). Think about it. Driven by health care and the aging population, business is booming (by 2016 health care is expected to be 20% of GDP). Boomer Alley has NIH (which has 27 Institutions and Centers), AARP, Social Security, The Capital, Erickson Retirement Communities, The Erickson School of Aging, Retirement Living TV, Coventry Health Care, Johns Hopkins, MedImmune, United Therapeutics . . . the list goes on and on. Not to mention more associations (for example, American Diabetes Association) than you can shake a stick at. The synergy these health care giants are creating . . . and the great minds they are attracting is changing the way we will live as we age.

The only thing wrong with this term is that it doesn’t expand to cover the mature market. Unfortunately, Boomer Plus Alley doesn’t sound right. That being said, Boomer Alley has a sexier ring to it than any of the other names I could come up with and gets the general idea across.

Mature Market Experts; is Boomer Alley usable the way Silicon Valley is?