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Tuesday, August 16, 2016

Boomers and Millennials and the Longevity Market

If you google “boomers and millennials,” you’ll find an awful lot of people weighing in on how these two generations—each with close to 70 million members—are or are not alike; do or do not along; and especially do or do not get along in the workplace.

I suspect this conversation will be going on for a while, covering the many ways that each generation has, and will have, a demonstrable influence on our lives, from the cultural to the professional to the financial. And even to the political, it turns out. Here’s an excerpt from a May 16 article on the Pew Research Center’s website:

“As of April 2016, an estimated 69.2 million Millennials (adults ages 18-35 in 2016) were voting-age U.S. citizens – a number almost equal to the 69.7 million Baby Boomers (ages 52-70) in the nation’s electorate, according to a new Pew Research Center analysis of U.S. Census Bureau data. Both generations comprise roughly 31% of the voting-eligible population.”

And here’s yet another Boomer-Millennial connection, in an article about the “longevity market”—a Boomer Buzzword new to me—and how it’s attracting all kinds of innovative goods and services. The piece opens with a Millennial entrepreneur noticing something new about his Boomer parents:

Boris Mordkovich, a 30-year-old serial entrepreneur, had never considered developing products for the aging baby boomer market. One day, however, he saw that his parents had started using an electric bike that his brother Yevgeniy had modified for his wife and himself.

“Electric bikes are an equalizer,” said Mr. Mordkovich, who has also owned a software company and a small-business magazine. “They let the rider decide how much or how little they will pedal.”

This year, he said, Evelo, the electric bike company that he founded with his brother, will double its revenue to $4 million, and it is profitable. “There’s no shortage of potential customers,” he added.

Read on here:

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