Tuesday, June 16, 2009

Worzel, part 3- demographics

Futurist Richard Worzel says the boomers are now between 42 and 62. They are starting to think about retirement. But they will stay active and involved in the workplace, even after retirement.

"Boomers have always changed the rules. Always have, always will."

They will travel, they will work, they will play, they "will transition to retirement."

Boomers are the second-most brand loyal generation, behind their parents. They want cool cars (Minis, not mini-vans.) They want to travel, but not by back-pack.

Next generation, the Baby Boom Echo (born 1977-1997), is the biggest generational bulge out there. Very skeptical, least brand-loyal. But they will become the biggest consumer group. Very tribal in how they communicate and buy.

Two other groups you need to target: Immmigrants (the only reason the Canadian population is still growing). Tend to settle in big cities (mainly Toronto, with a minor on Vancouver). Very varied in how they behave as consumers. Platinum Rule: "Do unto others as they like being done unto."

Other big market: Women. They are already involved in all the big purchases of the economy. Over the next generaiton they will go from being the "second sex" to "the first sex" (ie, CEOs, premiers, presidents) .Mainly because there are fewer barriers now, and more role models to copy and be inspired by. (58% of all Canadian post-secondary students are womne). "Tomorrow's leaders are going to be women."

"Actively seek to do business with women rather than grudgingly doing business with them because you can't find a man to do business with," says Worzel. "The glass ceiling is not just going to be broken - it's going to be shattered."

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