Lina Ko March 29th, 2007
It’s common knowledge that boomers are extremely health-conscious and they are watching what they eat. Research has indicated that more than 57 per cent of boomers say they are making a lot of effort to eat healthier. Forty-seven percent spend 15 minutes or less preparing dinner and 76 per cent are eating out more and buying home-meal replacements instead.
In my phone interview with Foodservice and Hospitality magazine last week, I said that food service and restaurant operators in Canada need to change in many ways to compete for business from boomers, the highest spenders at restaurants. Menus should provide healthier options – from the low-salt, low-fat to natural or organic food to smaller food portions – in order to cater to health-conscious boomers.
Most fast food outlets now have salads and fish on the menu and very soon, Calgary will be the first Canadian city to be trans-fat-free following the examples of Copenhagen and New York. Restaurateurs are also redesigning their menus in larger prints and reducing the noise or music level to be boomer-friendly.
Food service marketers who are adopting a customized and flexible approach appealing to boomers will find their efforts worthwhile. Perhaps, we will soon see Canadian supermarkets following the example of a British supermarket where grocery carts have magnifying glasses and fruit and vegetable scales can talk. The aisles are extra-wide, the floor is slip-resistant and overhead lighting is extra-bright!
Lina Ko March 27th, 2007
As baby boomers age, health conditions like heart disease, diabetes, and arthritis become a primary concern. Companies that recognize the potential for marketing innovative products to baby boomers with health ailments will surely surpass their competition.
There are nearly 4.5 million Canadians living with arthritis and recently The Arthritis Society launched an initiative to endorse products that are “arthritis friendly.” Companies seeking commendation from The Arthritis Society must submit their products for an evaluation conducted by a third-party agency and receive a passing grade based on product performance.
Fiskars, the manufacturer of quality lawn and garden tools, has received approval from The Arthritis Society for its PowerGear products for being arthritis-friendly.
Fiskars PowerGear Pruners, Loppers and Hedge Shears use a patented gear design to provide the user with an additional mechanical advantage that reduces cutting effort, strain and fatigue. These products can be identified by The Arthritis Society’s “arthritis-friendly” logo.
With the considerable buying power that baby boomers possess, I wonder which company will be next to introduce a ground-breaking product that addresses the health concerns boomers face?
Lina Ko March 23rd, 2007
After flipping through the premiere issue of More, the new magazine aimed at Canadian women over 40, I completely understand how its U.S. counterpart won 2006 Magazine of the Year by Advertising Age.
More, in fact does far more than the typical female consumer magazine. It goes beyond recipes, theme-based features, and tips n tricks columns, and offers readers interesting articles and advice that I believe resonates with its target audience. For example, where else will you find sections called Firsts after Forty, Fashion for Grown-Ups or This is What 51 Looks Like. It’s positive, informative and any marketer looking to target boomer women should jump on board.
The magazine does fill a niche in the Canadian marketplace, and I think it will do well because it has done its homework. More celebrates boomer women and reflects how they see themselves at this stage in their lives. I look forward to reading More! How would you rate this magazine? Visit www.moremagazine.ca to check out the first issue.
Lina Ko March 20th, 2007
The March 16 issue of The Economist brought up “Medical Tourism” as a growing industry in Asia. It explained how soaring health-care costs in the rich world offer Asian firms an opportunity to cater to the health-conscious baby boomers. With the ageing population, America’s soaring health-care costs, already at US$2 trillion a year, are predicted to double in the coming decade. Even in countries like Canada and the U.K., with supposedly universal health-care coverage, government spending is obviously not keeping up with growing demand and patients face long and agonizing waits for operations. This frustration for speedy treatments presents a great business opportunity for those Asian countries such as Thailand, Singapore and India which have excellent private hospitals that are used to treating foreigners at a fraction of the cost in rich countries. “Medical Tourism” is booming as patients look abroad for cheap, fast treatment, often combined with a holiday afterwards. Today’s boom is just the start. So far, most medical tourists, as I understand, pay their own way. But it will not be long before Asian hospital operators will court North American health insurers and employers desperate to rein in soaring costs. I, for one, would not hesitate to be a medical tourist when the time comes. Please let me know your views.
Lina Ko March 15th, 2007
I read with interest Rob Carrick’s column today in The Globe and Mail on the RRSP turning 50 today. Now that RRSP is even a boomer itself, we’re looking at new challenges faced by this once almighty, tax-deferring retirement-saving vehicle. With last year’s enhancement of the dividend tax credit, this 50-year old boomer is certainly facing new competitors. Canadians who are saving for their retirement years can now turn to dividend fund in a non-registered retirement account or even stocks. Marketing to the tail end of the boomers or even to younger Canadians now requires more options and analysis of the different scenarios that investors might be facing. Watch out for the announcement of Monday’s budget to fine-tune your marketing directions! It isn’t time for the 50-year old RRSP to retire yet, but life for the RRSP will no longer be as hectic as before.
Lina Ko March 14th, 2007
As front-end baby boomers edge closer to 65 – the “traditional” retirement age – they are beginning to plan for their future living arrangements.
According to recent newspaper articles in Canada, boomers will resist the current nursing-home model, and inter-generational tensions are expected to mount between current retirees and the healthier and more active boomer generation.
Retirement homes face the challenge of keeping their commitments to current residents and attracting the next cohort of seniors. Many private developers are aware of the attitudinal differences and are seizing the opportunity to tap into the lucrative boomer housing market by catering and marketing to the desires of a generation that gets what they want, when they want it.
This means that retirement communities will need to be equipped with a wide range of amenities, because euchre and aqua fit won’t entice baby boomer residents!
Lina Ko March 8th, 2007
Dove has done it again, standing head and shoulders above the crowd of other marketers with a brilliant special supplement in today’s Globe & Mail celebrating International Women’s Day. The special section is called, “Age of Enlightenment: 5 Essays and Reflections from Canadian Women in a New Era of Maturity.” The essays are penned by Dr. Nancy Etcoff, PhD, a faculty member at Harvard and author of Survival of the Prettiest; Susan McDaniel, a sociology professor from the University of Windsor; Sue Johanson, the well known sex educator and talk show host; Barbara Moses, a career management expert; and the Honourable Beverley J. Oda, the Minister of Canadian Heritage and Status of Women.
While it’s clearly an advertorial, I think this special section will be well received by female boomers because it uses five credible authoritative voices on the great strides women have made in their professional and personal lives. True to form, Dove continues to connect with its target audience by including “Reflections” from five everyday women offering their perspective on beauty, health, sex, and careers. I like this campaign, but I would like to hear from you. What do you think? Does the fact that this was a “bought” advertisement diminish its effectiveness? Should Dove be doing more to leverage these personalities by seeking out additional editorial opportunities?
Lina Ko March 2nd, 2007
Now that we’re in the third month of 2007, many of our New Year’s resolutions have probably fallen by the wayside. However, there is at least one resolution baby boomers should stick to if they want to fight the signs of aging – keeping active and eating right!
Even though baby boomers like to think of themselves as the “health-conscious generation,” as they age they become more susceptible to aches, pains, weight gain, and other serious health problems.
My colleague Don Mills of CRA often tells me that boomers are more likely to watch what they eat to maintain their weight versus exercising regularly. I think my friend David Foot, the prominent demographics expert and economics professor at the University of Toronto, would agree. I can recall one of his presentations where he shows an image of a boomer dreaming of skiing, while reclining in an easy chair.
I practice what I preach, however, and I know an active lifestyle and healthy eating are key to thwarting the signs of aging (and they are better/cheaper options than liposuction!).
I also recognize that all boomers are not alike, but tremendous marketing opportunities exist for gyms, exercise classes, outdoor activities/adventure trips, personal trainers, and healthy cooking classes that target boomers.
I would like to know what you think.
Are marketers better off focusing on female boomers, who say they exercise regularly? Or, should they employ a more broadly-based campaign when it comes to physical fitness?