Cashing in on the Boomer boom

It finally dawned on Millennials that they aren’t going to inherit any time soon, or as much as they’d hoped. Their parents, the Boomers, are living beyond their years and beyond their means.

Boomers were the luckiest generation. They lived through boom times with bull markets and amassed private wealth. On average, they are worth much more than their parents or offspring. But the next generation aren’t so lucky.

For a start, we’re all living longer, which means inheritance is delayed. We’re generally living healthier, more active lives, which means we’re spending more on leisure and fun. And those with poorer health and less wealth are finding that retirement is a costly business.

All of which leaves Millennials with only one option, if they want to acquire some of that Boomer moola: Tap into the most lucrative market yet. Services and experiences for seniors and products tailored to the oldies are in big demand. It’s a massive market ripe for disruption.

The key to innovation in this space lies in hyper-personalization. Not all late blooming Boomers are equally wealthy, but everyone has their foibles and fancies. They want to be seen and treated as individuals. From curated bucket lists to AI robotic carers that really get them, the field for smart new ideas is wide open, and the opportunities are huge.

This is the long tail market segment that just keeps getting longer. It’s not about low price and high volume. Cracking the code of profitably delivering to a mass market of one is what you need, if you want to cash in on the Boomer boom.