Aug 31, 2016 – from Social Intelligence

How the Senior Wave Will Reshape the Economy

Elderly womanAccording to a recent Wall Street Journal article, the senior care franchise business is booming and shows no signs of slowing. Small wonder: An impending wave of Boomers is poised to swell the 65+ age bracket in the coming decades. What’s more, Boomers’ dis­tinctive attitudes and preferences will set them apart from previous generations of seniors. They won’t just be buying more; they will be buying differently. Many industries will be transformed along the way. Health care will experience an explosion in Boomer spending. The home improvement and travel and hospitality industries will benefit from a generation of family-centric, New Age seniors. And the auto, film, and sports industries will begin to go gray. Looking back, Boomers have had a profound effect on every age bracket they have entered throughout their lives—and old age will be no exception.

The impending senior wave is powered by two distinct drivers. First, demography: Boomers will be entering older age brackets in record numbers over the next couple decades. Last year, 14.9 percent of the population was age 65 or over.…

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