Fantastic breakdown of the “longevity economy” from Steve Jurvetson at DEMO 2012.
“Here are some of the points I shared:
The 50+ market is huge and a large untapped opportunity for entrepreneurs. In the U.S. alone, there are 100 million people over 50, and that number grows by 10,000 every day. By 2025, the entire nation will look like Florida does today. Demographics is destiny — the aging population is a perfectly predictable dynamic that will have massive economic repercussions. They already represent a disproportionate 45% of U.S. consumer spending, and healthy aging is already a $515 billion business (Furlong).
The boomers are qualitatively different as well, both from the generations that preceded them, and from common assumptions. Advertisers often focus on the 18-34 year old segment to find adopters of new products. Let’s compare that to the 50+ segments. The 50+ spend 2.5x as much, and dominate the entire market for some segments (60% of all CPG and automobiles, 80% of leisure travel). But are they laggards? They are 3x as likely to buy online as the 18-34 segment. They buy the most hybrid cars, iPads and even online dating services.”