Turning Silver Into Gold

Turning Silver into Gold
Stuart P. Rosenthal
President, North American Mature Publishers Association
Chair, Maryland Commission on Aging
Publisher, The Beacon Newspapers
Presented
Presented at The Greater at The GreaterChase
Bethesda-Chevy Bethesda-Chevy
Chamber ofChase Chamber of Commerce
Commerce
Business with
Business with Boomers+ Meeting Boomers+ Meeting Stuart P. Rosenthal
Stuart@thebeaconnewspapers.com
Tuesday,
Tuesday, September September 14, 2010
14, 2010 www.TheBeaconNewspapers.com
www.bccchamber.org
www.bccchamber.org
Age Wave? Silver Tsunami?
Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Stuart P. Rosenthal
Business with Boomers+ Meeting Stuart@thebeaconnewspapers.com
Tuesday, September 14, 2010 www.TheBeaconNewspapers.com
www.bccchamber.org
U.S. Population Growth (percent) by Age
Age Group 1960-1970 1970-1980 1980-1990 1990-2000 2000-2010* 2010-2020* 2020-2030*
0 to 4 -15.0 -4.1 11.5 4.3 11.5 7.0 6.1
5 to 14 14.3 -14.7 1.1 16.8 -1.5 9.9 6.3
15 to 24 48.0 18.7 -13.4 7.1 9.1 -1.9 10.4
25 to 34 10.6 49.0 15.5 -7.9 4.5 8.4 -0.4
35 to 44 -4.6 12.2 45.7 19.9 -8.9 4.1 9.1
45 to 54 13.1 -2.6 11.0 50.8 17.9 -8.7 4.9
55 to 64 19.9 16.6 -3.2 15.6 48.4 18.0 -7.7
65 to 74 13.6 25.6 15.3 1.7 15.8 49.3 19.2
75 and over 35.7 32.9 29.7 27.5 13.8 20.5 46.3
Source: Gerontological Society of America

Stuart P. Rosenthal
www.bccchamber.org
The U.S. and beyond – a graying planet
Global aging - the

new demographic
revolution - offers
challenges, changes
and opportunities to
organizations poised
to service it.
BusinessWeek Online,
01/05

Stuart P. Rosenthal
www.bccchamber.org
Boomers & Seniors are the Fastest Growing Markets
Market Growth Over the Next 15 Years 1

50
 Every 7.5 seconds 45 >50%
someone is turning 40
50
35
Percent
 In less than 18 30
32%
months, 108 million 25
people will be over 20

the age of 45 (~40% 15
of population) 10
5
0 3%
50-64 65+ 18-40
Year Olds Year Olds Year Olds
1Sales and Marketing Magazine
2US Census Bureau projections

Stuart P. Rosenthal
www.bccchamber.org
PEW Communities Survey

Stuart P. Rosenthal
www.bccchamber.org
Boomers’ Financial Life
U.S. 50+ Population Facts:

 Home ownership at 79% for 50+
 Account for 77% of financial assets
 Control 70% of total wealth
 Comprise 66% of all stockholders
 Account for over 50% of all
discretionary spending

Stuart P. Rosenthal
www.bccchamber.org
5 Key Boomer Trends
1 Aging ~ a global trend

 China will have about 630 million people age 50+ in 2050 - UN population projection
2 Technology ~ enhancing the quality of life

 Tech companies like Intel are transforming into tech and healthcare companies.
Assistive devices, smart connectivity, smart home - residential wireless sensors,
smarter mobile devices
 Boomers represent between 38% - 40% of Internet users - Piper Jaffray
 In 2008, Internet users age 50-64 (40.7 million users) - 73.7% penetration by ’08
- eMarketer
3 Longevity ~ financing longer, healthier lives

 Old rules: Count on social security and lifelong company pensions
New rules: Investing for your future, 401(k)s, 403(b)s, IRAs, taking control
of your destiny - The Motley Fool
 Boomers comprise 66% of all stockholders and account for 77% of financial
assets - Sources: Age Power by Ken Dychtwald and Fiftyplus.com

Stuart P. Rosenthal
www.bccchamber.org
4 E-shocks transitions
For every stage of aging, there is also a creative business opportunity.
Examples: health, family, work, loss of parents, empty nest
 Seventy-percent of Americans over age 65 will need some sort of home health care
- American Association of Homes and Services for the Aging
 The 50+ demographic accounts for 45% of all healthcare spending

- North Castle Partners
 Travelers over 50 consume 80% of all luxury travel

- The Travel Industry Association of America
 The boomer and older account for 54% of self-employed workers

- Challenger, Gray & Christmas
Spirituality, connection, philanthropy

5
 Half of people in their 50s and 60s want to do work that helps others
- “New Face of Work” survey, MetLife Foundation and Civic Ventures

Stuart P. Rosenthal
www.bccchamber.org
HEALTH TRAVEL PASSION SEX
FASHION HOUSING FAMILY ELDERCARE

Stuart P. Rosenthal
www.bccchamber.org
Health, Active and Sustainable Living: $515 Billion Market
 Nutrition: 8% CAGR**
(organic foods, vitamins, minerals, herbs & supplements)
 Active Sports & Recreation: 12% CAGR**
(action, adventure & endurance sports & equipment)
 Fitness: 13% CAGR**
(health & fitness clubs, sports, event management)
 Wellness: 16% CAGR**
(CAM, behavioral health, rehabilitation)
 Weight Management: 28% CAGR**
(weight loss programs, products & services)
 Relaxation & Leisure: 10% CAGR**
(leisure activities & products, alternative fitness & wellness)
 Sustainable Living: 11% CAGR**
(ecologically sustainable consumer products)
 Healthy Aging: 12% CAGR**
(behavorial health, physical therapy, rehabilitation, hormone therapies)
**Compound Annual Growth Rate 1994-2004
Source: Partnership Growth Capital

Stuart P. Rosenthal
www.bccchamber.org
Healthy Living and Aging is a $480B industry…
North Castle Partners LLC

Stuart P. Rosenthal
www.bccchamber.org
Every Dissonance of Aging is a Market Opportunity
Pain Management
Sleep Challenges
Skin Care
Weight Management
Chronic Disease Management
Diabetes

Stuart P. Rosenthal
www.bccchamber.org
The Dissonances of Aging Create New Markets
Prevalence of joint pain
Prevalence of vision problems

Ages 18-44
Ages 75+
11% that cannot be corrected by
34% Ages 45-64
24%
glasses or contacts
Ages 65-74
31% Ages 75+ 20%
Source: 2004 NHIS

Ages 65-74 14%
Ages 45-64 11%
Ages 18-44 5%
0% 5% 10% 15% 20% 25%
Source: 2004 NHIS

Stuart P. Rosenthal
www.bccchamber.org
Family and Caregiving
The caregiving
population will be
70 million in 20 years

Business with Boomers+ Meeting
Tuesday, September 14, 2010
www.bccchamber.org
Home is Where the Heart Is –
 Aging in Place ~ Given a

choice, 83% of 50+ respondents
said they’d strongly prefer to
stay in their current homes for
as long as possible.
 In home care - $50 billion mkt
- AARP Survey, “Fixing to Stay: A National Survey of Housing
and Home Modification Issues,” 2000

Business with Boomers+ Meeting
Tuesday, September 14, 2010
www.bccchamber.org
Entrepreneurs
Boomers and up
account for 54%
of self-employed
workers
– Challenger, Gray
& Christmas
Artist Todd Healy, Gallery Lafayette

Stuart P. Rosenthal
www.bccchamber.org
Corporations
Changing
Strategies

Stuart P. Rosenthal
www.bccchamber.org
New Businesses Forming

Stuart P. Rosenthal
www.bccchamber.org
Large Brands Changing Strategies
Slimline Personal Help Button and
CarePartner Telephone with
Reminders
Assistive Technology Products:

alternative keyboards, electronic
pointing devices, wands and sticks,
joysticks, trackballs, touch screens
AARP survey: 74% of adults 50+

want to remain in their homes for the
rest of their lives.
Kohler Products:
• Purist® bathroom sink faucet – easy for
older adults to maneuver – and they're
beautiful--an essential requirement for
aging baby boomers
• KOHLER Comfort Height™ toilets

Stuart P. Rosenthal
www.bccchamber.org
More Large Brands
• Lily – Cialis - to own the ED market
• Intuit – Medial record tracking

– to help manage healthcare
expenses
• Nintendo - Wii
• AARP – Motorcycle; Dental, Wine,

Everyday Discounts, Technology,
Pets
• Bayard – Media - top magazines,

websites and events in Europe
• Electronic Arts – Pogo

Stuart P. Rosenthal
www.bccchamber.org
The Media Landscape
2010
1986
Blogs Newspapers
Cable Cable Online Games
1966 Magazines Email Personal Computer
Newspapers Facebook Podcasts
Magazines Personal Computer Google Radio
Newspapers Radio IM Social Media
Radio Television Internet Television
Television Videotape Recorder Internet Radio Text Messaging
Video Games iPod/iPhone Apps Tivo
Magazines Twitter
Mobile

Stuart P. Rosenthal
www.bccchamber.org
Newspaper Readership
Daily and Sunday Circulation Declines Daily Newspaper Readership by Age Group
Percent declines in circulation by six-month period Percent nationally who read any daily newspaper, 1999-2008
Source: Deproducts or services utsche Bank Securities Source: Scarborough Research survey data
By the Project for Excellence in Journalism and Rick Edmonds of the Poynter Institute

Stuart P. Rosenthal
www.bccchamber.org
Local 50+ Publications
Free publications throughout the U.S. target the
50+ niche, reaching millions of loyal readers.

Stuart P. Rosenthal
www.bccchamber.org
AdweekMedia/The Harris Poll
TABLE 1 TABLE 2
MOST HELPFUL ADS ADS PEOPLE IGNORE
“There are many different types of ads and many venues for “Which one of the following types of ads do you tend to
them. Which one of the following do you find most helpful in ignore or disregard the most?”
helping you decide what products or services to purchase?” Base: All U.S. adults
Age Age
Total Total
18-34 35-44 45-54 55+ 18-34 35-44 45-54 55+
% % % % % % % % % %
Television ads 37 50 38 35 23 Internet banner ads 46 43 50 48 45
Newspapers ads 17 6 13 14 31 Internet search engine
17 20 14 17 15
ads
Internet search engine
14 10 15 16 16 Television ads 13 7 10 15 20
ads
Radio ads 3 3 4 3 2 Radio ads 9 11 10 9 7
Internet banner ads 1 4 1 1 * Newspapers ads 6 7 7 5 5
None of these 28 27 29 31 27 None of these 9 13 9 6 8
Poll conducted June 4-8, 2009.

Stuart P. Rosenthal
www.bccchamber.org
Marketing Budgets

Stuart P. Rosenthal
www.bccchamber.org
Effective Print Advertising
• What makes ads effective?

• What keeps them readable?

Stuart P. Rosenthal
www.bccchamber.org
Portraying Older Adults?

Stuart P. Rosenthal
www.bccchamber.org
Graphic Designer Pointers

Stuart P. Rosenthal
www.bccchamber.org
Prime Source for much of this Presentation
Dr. Mary S. Furlong, CEO

Mary Furlong & Associates
Author, Turning Silver into Gold:
How to Profit in the New Boomer Marketplace

Stuart P. Rosenthal
www.bccchamber.org
Thank you
Stuart P. Rosenthal
President, North American Mature Publishers Association
Chair, Maryland Commission on Aging
Publisher, The Beacon Newspapers
stuart@theBeaconNewspapers.com
www.theBeaconNewspapers.com; 301-980-9557

Stuart P. Rosenthal
www.bccchamber.org

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Turning Silver into Gold

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Age Group 1960-1970 1970-1980 1980-1990 1990-2000 2000-2010* 2010-2020* 2020-2030*

0 to 4 -15.0 -4.1 11.5 4.3 11.5 7.0 6.1

5 to 14 14.3 -14.7 1.1 16.8 -1.5 9.9 6.3

15 to 24 48.0 18.7 -13.4 7.1 9.1 -1.9 10.4

25 to 34 10.6 49.0 15.5 -7.9 4.5 8.4 -0.4

35 to 44 -4.6 12.2 45.7 19.9 -8.9 4.1 9.1

45 to 54 13.1 -2.6 11.0 50.8 17.9 -8.7 4.9

55 to 64 19.9 16.6 -3.2 15.6 48.4 18.0 -7.7

65 to 74 13.6 25.6 15.3 1.7 15.8 49.3 19.2

75 and over 35.7 32.9 29.7 27.5 13.8 20.5 46.3

Source: Gerontological Society of America

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Global aging - the

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Market Growth Over the Next 15 Years 1

people will be over 20

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

U.S. 50+ Population Facts:

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

1 Aging ~ a global trend

2 Technology ~ enhancing the quality of life

3 Longevity ~ financing longer, healthier lives

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

 The 50+ demographic accounts for 45% of all healthcare spending

 Travelers over 50 consume 80% of all luxury travel

 The boomer and older account for 54% of self-employed workers

Spirituality, connection, philanthropy

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

FASHION HOUSING FAMILY ELDERCARE

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Source: Partnership Growth Capital

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

North Castle Partners LLC

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Prevalence of vision problems

Source: 2004 NHIS

Ages 45-64 11%

0% 5% 10% 15% 20% 25%

Source: 2004 NHIS

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

 Aging in Place ~ Given a

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Assistive Technology Products:

AARP survey: 74% of adults 50+

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

• Lily – Cialis - to own the ED market

• Intuit – Medial record tracking

• AARP – Motorcycle; Dental, Wine,

• Bayard – Media - top magazines,

• Electronic Arts – Pogo

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce

Poll conducted June 4-8, 2009.

Presented at The Greater Bethesda-Chevy Chase Chamber of Commerce