The Second Phase of Average and Median Age Shift in G7 Countries
by Craig Vogel
The issue of average age shift in the populations of G7 countries is now in its second phase. In similar pattern to global environmental change the global shift in the average and median age of industrial nations is a reality that we all accept. Now that we have accepted the race is on as to how companies and countries will respond.
So the questions have changed from “if and should” to “what and how” do we effectively react and fully understand the impact of this change?
The Decrease in Perceived Roles and Life Expectancies of Men
by Craig Vogel
Men 50-70 are experiencing a identity crises and with a life expectancy projection still 5-10 years less the women of the same age they are not responding with the same intensity as the female counterparts. They could become the lost generation if society does not take active steps to change this situation.
This is not just about men and women it is about couples and families
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The Power of Women in this Age ShiftThis is a women centered trend and in contrast 50+ men are loosing relevance. The combination of the number of women in the workforce, the power of consumer preference for products in the home, the hidden non-reimbursed health care support woman are providing and the networking style of women is putting women in the center of this trend. Since Rosie the Riveter in W.W. II women's role in the US (and Europe) economy have continued to improve and wages and responsibility increased. The rise of single women homes as primary wage earners has increased dramatically. Women now make 80% of the purchase decisions for the home. Women also have a more consistent and effective dialogue with other women and their children particularly daughters. Marti Barletta refers to women 50-70 as Prime Time Women in her book by the same title. Women 50-70 use multi-media approach to connecting and learning. They listen to their children who primarily us the web/phone for their information. This is creating a new multi-channel network for responding to change and learning and sharing. |
The Dialogue Between Echo and Baby Boomers
by Craig Vogel
Transgenerational Marketing + Mass Customization
One of the unique unanticipated results of this trend is that it is centered in baby boomer generation but has impact across the generations. The term “sandwich generation” is used to express this issue but it is incomplete. There is a new trend of boomers talking to their echo boomer children in a way that is unprecedented in history. Both generations have a mutual respect and are not trying to emulate each other but rather work together for the mutual benefit of both. In addition the Boomer generation is having significant impact on parents and the impact of caring for parents in subtle and significant ways is having an impact them. The concept of market segmentation needs to be rethought in an era were transgenerational communication is replacing advertising as one of the most powerful decision forces in culture and consumption. Transgenerational marketing is a new concept and may even replace market segmentation as the way for companies to introduce and evolve new products and services. Transgenerational marketing (family and friends communicating on multiple channels) and mass customization (Digital personalization Wikinomics) are becoming a new tag team for consumers to make choices.