Slideshow Transcript

1. Slide 1: Turn Silver into Gold: Creative Entrepreneurship Mary S. Furlong, Ed.D CEO, Mary Furlong & Associates
2. Slide 2: Top Five Boomer Trends China will have about 630  Global Economy and Global million people Demographic Shift age 50 and above in 2050  Longevity ~ Financing Longer, Healthier Lives - UN population projection, 1998  Technology ~ Innovation Enhancing the Quality of Life  Lifestage Transitions ~ Creating Opportunities to Serve  Spirituality ~ Returning to Core Values
3. Slide 3: Today’s Conversation: Creating the Most Value and Finding Opportunities in Four Areas  Health and Healthy Living  Entrepreneurship and Work  Entertainment  Spirituality and Giving Back
4. Slide 4: Healthy Living ~ Market Size by Category North Castle Partners LLC
5. Slide 5: Boomers and Healthy Living  83% use vitamins  76% some form of exercise  Dramatic increase in health club membership – 55+ are fastest-growing segment of health club members  WebMD growth  Growth of yoga; yoga journal; cruises  74% of health clubs offered yoga in 1999, up from 38% in 1995  28 billion mail order prescriptions 2001  Intel, VC Firms  Job related Health Care
6. Slide 6: Boomers and Healthy Living  The 50+ demographic accounts for 45% of all healthcare spending The anti-aging  Health food retail sales have grown 23% per product market is year over the last 10 years expected to grow  The weight loss industry in the U.S. is to $29 billion by estimated to be a $35 billion business 2007  Use of spas has grown by a factor of 5.6 times over the last 10 years  63% percent of physicians are currently giving patients nutritional advice, up from 49% in 1996  The most common reason for using supplements is for general health and wellness, rather than as treatment for an existing condition
7. Slide 7: Example ~ Innovative Technology in Healthcare Wearable body monitoring products and services
8. Slide 8: Smart Entrepreneurs are Tapping the Boomer Market  U.S. households headed by someone 40+ hold 91% of America’s net worth  The burgeoning U.S. boomer market is now over 78.2 million (born 1946- 1964) - and represents more than $2 trillion in annual spending  People 50+ in the U.S. comprise 66% of all stockholders  They account for over 50% of all discretionary spending
9. Slide 9: Third Annual Silicon Valley Boomer Venture Summit Selected venture capital firms that Boomer Business Plan Competition support $10,000 Grand Prize Winner entrepreneurs serving the boomer market: Sequoia Phillips Draper Fisher Jurvetson North Castle Partners John White, CEO, iRhythm, Stanford, CA - an easy-to-use cardiac rhythm monitoring device and Amy Pruitt, Santa Clara University
10. Slide 10: Entrepreneurial Corporations Repositioned to serve the boomer marketplace: Philips – Technology and Healthcare Intel – Technology and Healthcare Intuit – Financial Services and Healthcare FedEx Kinko’s Qualcomm UPS Geek Squad/Best Buy Comcast Herman Miller AARP Discounts Costco Chico’s Clothier Kauffman Foundation – The Entrepreneurial Imperative http://www.kauffman.org/
11. Slide 11: Innovative Entrepreneurs Positioned to serve the boomer marketplace:
12. Slide 12: Entertainment, Passion, Play, Learning Drivers: Escapism, Connection, Fulfillment  Mastery  Gardening Of interest ~  Golf Most Harley-Davidson  Music motorcycles are being  sold to people over 40 Digital photography and 50.  Catered peak experiences  Connections Best Buy has opened a new store, EQ Life,  Pets - 100 million targeting mature woman.  Hobbies – a $25.7 billion industry in 2001 “Health, wellness and technology in harmony”  Scrapbooking - $2.5 billion in sales, 2003 http://eq-life.com/
13. Slide 13: U.S. Casual Online Gaming – Mass Market Entertainment  70+ million people play online Age 50-64, Age 13-17, 20% 12% casual games at least monthly (11-17 mm) (6-11 mm)  Approximately 50% of all US online population  All ages play online gamers  40% are age 40 or older  59% of Casual Gamers are Age 18-39, Female Age 40-49, 48% 20% (32-38 mm)  Tend to be middle income (11-17 mm) © 2006 Frank N. Magid Associates, Inc.
14. Slide 14: Video Games: It’s an Growing Business. Boomers are Playing In 2006, 25% of gamers are over 50 ESA 2006 Report (Entertainment Software Association) and Ages Entertainment The total video game market in 2006 has begun to pull away from 2005. 10.000 9.000 Cum Dollar Sales (millions) 2006 8.000 2005 7.000 2004 6.000 2003 5.000 2002 4.000 2001 3.000 2000 1999 2.000 1.000 0 Jun Aug Mar Apr Jul Oct Jan May Nov Dec Sep Feb Source: NPD TRSTS. Includes HW, SW, PE for consoles & portables; excludes PC SW as illustrated by SOA Market Research.
15. Slide 15: Spirituality and Giving Back  75% of men and nearly 90% of women report that spiritual well-being is important to their quality of life  56% of Americans 45+ attend church at least every 2 weeks  40% report that helping others is the most satisfying spiritual/religious experience  42% say they are “very spiritual” – 34% say they are “very religious”  52% surveyed boomers have a “quiet time” during the week
16. Slide 16: Reaching Boomers: They are Online in Record Numbers Boomers: Represent between 38% - 40% of Internet users Broad Internet users with heavy use of productivity and communication tools and largest eCommerce demographic Source: Safa Rashtchy, Piper Jaffray, The Future of the Internet and Boomers, June 20, 2006, Silicon Valley Boomer Venture Summit
17. Slide 17: What’s Next?  The wireless and empowered boomer offers unprecedented business opportunity on a global scale  New communities and connections will catalyze social change  The boomer revolution will be the deepest and most significant in our history  It will influence the cars we drive  The way we live  The countries that we travel to  The causes that we give to  The children that we raise  The grandchildren that we celebrate  The legacy that we leave
18. Slide 18: About Us Mary S. Furlong, Ed.D CEO Mary Furlong & Associates What’s Next Boomer Business Summit 3527 Mt. Diablo Blvd. #128 March 5-6, 2007, Hyatt Regency Chicago Lafayette, CA 94549 www.boomersummit.com mary@maryfurlong.com 415-902-8671 http://www.maryfurlong.com Upcoming Book…. Silicon Valley Boomer Venture Summit & $10,000 Boomer Turning Silver into Gold: How to Business Plan Competition Profit in the New Boomer June 19, 2007, Santa Clara University, Santa Clara, CA Marketplace, Mary Furlong, www.boomerventuresummit.com Ed.D, Prentice-Hall, March 2007