Products and services typically targeted to Millennials are refocused
Trend - Lifestyle and purchase habits that are typically engaged with by Millennials, and targeted specifically to them, are now being transformed to better suit the needs and preferences of Boomers. Though staying the same in function and impact, the branding tweaks that introduce these products to new customers set a precedent for creating intergenerational branding.
Insight - As North American Boomers are reaching (or have reached) retirement age, many within this demographic are assessing how they can use their free time to better their quality of life–particularly as it pertains to recreation. Older generations are no longer confined to the social norms that their predecessors adapted to, and are instead looking for ways to diversify their lifestyles.
Insight - As North American Boomers are reaching (or have reached) retirement age, many within this demographic are assessing how they can use their free time to better their quality of life–particularly as it pertains to recreation. Older generations are no longer confined to the social norms that their predecessors adapted to, and are instead looking for ways to diversify their lifestyles.
Workshop Question - How could your brand better connect to consumers across generational barriers?
Trend Themes
1. Intergenerational Ritual - Products and services typically targeted to Millennials are now being transformed to better suit the needs and preferences of Boomers.
2. Plant-based Boomer Beverages - Established brands and start-ups alike are creating vegan-friendly products specifically for the boomer demographic, like 'Perennial,' a non-dairy drink that targets consumers over the age of 50.
3. Boomer-focused Podcasts - Alexis Ohanian created a podcast series called Business Schooled to highlight learnings from experienced, boomer entrepreneurs.
Industry Implications
1. Food and Beverage - Both plant-based and boomer-targeted products offer disruption opportunities in the food and beverage industry.
2. Personal Development Services - Lifestyle coaching offers potential disruption opportunities in the personal development services industry.
3. Media and Entertainment - Creating boomer-focused content like podcasts responds to potential disruption in the media and entertainment industry.
