As a Network Marketer, it is vital that you define and know exactly whom you are targeting with your product or service. If you are not targeting the “Baby Boomer” Generation, then you should seriously consider it.
Just who are these “Baby Boomers”?
From the October 24, 2005 issue of Business Week Online, “Love Those Boomers” by Louise Lee, are some of the facts.
Baby Boomers are people born between 1946 and 1964 and are the post-World War II generation. There are 77 Million Baby Boomers in the United States alone. Let me say that again so that it sinks in. There are 77 Million Baby Boomers in the United States and over 1 Billion worldwide. They make up 27.5% of the population of the United States and account for 45.8 Million Households.
Their estimated annual spending power is $2.1 Trillion Dollars. Their annual average household pretax income is $57.7 thousand dollars and of that their annual average spending per household is $45.7 thousand dollars. Their poverty rate is a meager 7.3%.
This generation has been the driving force in most of the major trends in the United States in the past 50 years. As babies in the late 40’s and early 50’s, this generation helped Gerber sell over 2 million jars of baby food. As these babies got a little older, companies like Buster Brown and Kinney shoes, Mattel, and Hasbro made fortunes selling shoes and toys to the toddler Baby Boomers.
In the mid-60’s this same group was finishing high school and becoming young adults. Ford’s marketing of the Ford Mustang made them a fortune selling this great, little, affordable, sporty car to these same Boomers. In the mid-70’s, the Boomers were getting married and starting families and accounted for the biggest real estate boom this country has ever seen.
Now think about this statistic, every 8 seconds in this country, one of these Boomers turns 54 years old. Obviously, that is a large number of 54 year-olds.
What do these 54 year olds want? What are their concerns, needs, wants and don’t wants? If you as a Network Marketer don’t know, then you better find out because this generation is going to drive the trends for their age group for the next 18 years. If you can figure out what 77 million people in their 50’s, 60’s, 70’s and 80’s are going to want, you can make a fortune as an average person in Network Marketing.
One of the major needs and concerns of Baby Boomers who are in their mid-50’s is good health. I know, because I just turned 54 two months ago. My grandparents lived into their 90’s and my parents are both in their mid to late 70’s. If I’m going to live that long, then I better start taking better care of myself. So my major concern is how to achieve better health and wellness.
In the next article in this series, you’ll learn how Health and Wellness will be the next Trillion Dollar Industry
Cathy Smith is the President of her own company, UPNorth Enterprises, Inc. She promotes the Profession of Network Marketing through her website http://explorefreedom.com/cathysmith She is also an Independent Associate for USANA Health Sciences, a company whose mission is to develop and provide the highest quality, science-based health products, distributed internationally through network marketing, creating a rewarding financial opportunity for its Independent Associates, shareholders and employees. Visit her website at http://www.cathysuesmith.com