3. Numbers to ponder…
31% of the US population is 50+ = about 100 million people: three-quarters
of them are Boomers
32.8% of the PR population is 50+ = about 1.23 million people: 60%
of them are Boomers
♦
50 – 54 year olds have the highest median household income of all segments
=$66,244
♦
As of January 1, 2011, just under 10,000 people will turn 65 every day –
for the next 18 years
♦
Today, there are 40 million people over 65; in 2020 there will be 70 million
people over 65
In PR, there are 541 thousand people over 65; in 2020 there will be 983,130 people
over 65. (81% growth)
♦
Today, there are 17 million people in the US 75 – 85 years old; by 2050, there will be
30 million people 75 – 85.
In PR, there are 167 thousand people 75 – 85 years old; by 2050, there will be 483
thousand people 75 – 85. (289% Growth)
3
5. The Boomer Market is… BIG!
There are more than 96 million consumers in the US who are 50+
years of age. 77 million are considered Baby Boomers.
Source: US Census Bureau, US Interim Projections, 2004
5
6. And It’s Getting Bigger…
This is expected to rise to 103 million by 2012. This demographic
controls 67% of US wealth ($28 trillion) and spends
$3 trillion annually.
Source: US Census Bureau, US Interim Projections, 2004
6
7. Puerto Rico: Demographic Shifts
PUERTO RICO: MEDIAN AGE, 1990 - 2010
1990 2000 2010
Puerto Rico Median Age 27.2 32.1 36.9
U.S. Median Age 32.9 35.3 37.2
PUERTO RICO: % OF POPULATION 50+ AND 0 – 15, 1990 - 2010
50+ Population % 0 – 15 Population %
1990 768,562 21.8 1,025,060 29.1
2000 1,004,500 26.4 967,075 25.4
2010 1,223,821 32.8 789,752 21.2
By 2050, 50% of Puerto Rico’s population will be 50+.
Source: US Census Bureau, 2010
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8. Puerto Rico: Dreams for the 50+
TOP DREAMS
Vacation & Travel 19%
Hobbies & Interests 18%
Children 12%
Good Health 9%
Finances & Money 8%
New Path 8%
Source: Core Q1. Thinking about what’s next in your life, I would like you to think about the kinds of things you dream about doing—these
could be things you have always wanted to do, but never got around to, or things you have done in the past and want to continue doing.
What would you consider to be the one thing that you would most like to do? (Open ended/Unaided response)
8
9. Puerto Rico: Survey Says?
According to a 2010 survey, Puerto Rico’s 50+ population is financially powerful, young
at heart, protective of their properties, focused on their well-being, and live for the
moment while remaining fully capable of caring for themselves in the long run. They
have a desire to contribute to society and to the communities in which they live.
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10. So it isn’t about AGE…
…it’s about RELEVANCE
10
13. Boomers: What’s Next?
Only a third indicate they will stop working entirely
after they retire
They are re-seeking their relevance
through finding purpose
They want products with proof – real
value not perceived value
Half feel finding a purpose in life is more important
than making money
13
16. The New Language of Living
Concepts That Connect
Reimagine Opportunity
Accomplishment Connections
Learning Discovery
Growth Purpose
16
17. The New Language of Living
Words to LOSE Words to USE
Aging Living
Longevity Bonus/ The New Life Stage Opportunity Generation
Purpose Reinvention
Meaning Sense of Accomplishment
Life Long Learning Personal Growth
Stage Learning
“Aspire don’t Retire” Progression
Navigator “I’m not done yet”
Credible, Unbiased Source
Indeed, a survey shows that Boomers in Puerto Rico are rejecting labels. They
want to be treated as adults in their “mature stage” without labels referring to
them as “senior citizens.”
17
18. The New Language of Living
what’s out what’s in
guidance fresh perspectives
advice shared experiences
coaching peers
the reality
18
21. The New Language of Living
language to lose…. language to use…
provide guidance and expertise shared experience
coach ally
advisor mentor
expert fresh perspective
reinvent rally
AARP gives/helps you with AARP connects you to
information about it access to people who
have done it
the right language.
21
22. The New Language of Living
language to lose…. language to use…
learn new skills adapt your skills to new careers
new skills training skills assessment
community service mentoring others, sharing your
expertise
meeting with a professional real human interaction
stories and conversations
opportunities
the right language.
22
23. Boomer Trends
Adult Proms: coast to coast, from 20s
to 60s
VIP Rock Festival Packages: $1,000
air conditioned tents, gourmet meals
and golf carts to a special viewing
area
50+ Bikers: motorcycle makers see
upside in 50+ market; and side cars
make a comeback
Burning Man Arts Festival: 50,000
attendees, 30% are age 40-80
“Singularity” as a mind set; MIT,
Harvard and Bill Gates foresee
limitless life spans
23
24. The U-bend of Happiness
Source: The Economist, PNAS paper: “A snapshot of the age distribution of psychological well-being in the United States” by Arthur Stone
24
25. AARP Brand Positioning
Future-oriented and Optimistic
“The anthem for these generations is the desire to grow, learn, and discover. They
have a positive view about these extra years of life. They see opportunity
everywhere and seek it everywhere.” *
Focused on Their Opportunity, Not Just their Age
“I’m not thinking about where I’ve been. I’m thinking about where I’m going.” *
Engaging (All About Them) instead of Paternalistic (All about Us)
*You have to think of yourself as ‘Me, Inc.’”*
25
26. AARP Brand Positioning
As a diverse community of members, AARP creates
opportunities and drives social change to help
people overcome challenges, achieve goals, pursue
dreams and live their best life.
26
27. How to Communicate to 50+
It’s about living not aging.
Don’t categorize. Don’t label. Don’t
box them in.
This is the Opportunity Generation.
They see opportunity everywhere
and seek it everywhere.
They define and seek ways to
enrich their lives themselves. They
don’t need encouragement.
27
28. How to Communicate to 50+
This generation has the desire to
grow, learn, and discover. They
have a positive view about these
extra years of life.
For a great future, they see the need
to be open-minded, learn new
things, and embrace change.
They see life as a “progression” and
“continuation.”
28
29. 50+, Technology and Social Media
Time to Debunk the Myths
“Smartphone Ownership Among Boomers and Seniors Explodes” –
Aging Online
“Social Media Now Popular Among Older/Adult Internet Users” –
Technorati Technology
“Social Networking Gains Among Older Americans” -- New York Times
“Downloadable interface simplifies Android phones for elderly
users” – Springwise
“Baby Boomers Far More Likely to Click Online Ads than Younger
Generations…” – Marketwatch
29
30. Enter Segmentation
Basis for more strategic and
prioritized development of
offerings delivering relevance to
different 50+ audiences
Basis for supporting strategic
communication in ways that are
culturally and ideologically relevant
Boomers are
NOT
Monolithic!
30
31. If You Reach Them, They Will Spend
50+ represent the largest, fastest growing, richest
consumer market on the planet, and:
Generate more than 40% of all disposable income
Account for 50% of all consumer spending
31
32. If You Reach Them, They Will Spend
50+ spend more than 2.5 times that of younger
consumers 18-34, and according to McKinsey:
Buy 60% of all package goods
56% of all new cars
80% of leisure travel
Are more likely to switch brands than people in their 20s and 30s
Are willing to experiment: purchase more hybrid cars than other cohorts
Are online in large numbers and spent nearly three times the national
average in online buying
BUT, only 10% of all ad spending is focused on the 50+ and many marketing
departments and ad agencies focus on 18-34 year olds.
32
33. Ample opportunities…
are there for the taking if we are:
CONNECTED
Understand WHO the Boomers are!
RELEVANT
Create value in peoples lives!
ENGAGED
In how 50+ people are reimagining life
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