Entrepreneurs Target Baby Boomers as New Start-Up Market
There’s a new term for one of the most studied segments of US consumers: the “longevity market” describes the 75 million, over-50 baby boomers. Even bigger than the population size is the demographic’s annual spending: $7.6 trillion. These huge numbers, combined with the boomers’ changes in attitudes and lifestyles toward aging, are proving to be a magnet for entrepreneurs, VCs, and investors. The “longevity market” is now seen as a major opening for start-ups, reports the NY Times. AARP holds yearly pitch events and has an incubator for innovative products and services, The Hatchery. Other events—the Silicon Valley Boomer Venture Summit and Aging 2.0—also provide an entrée into the market. It’s a hot spot in the economy that will spark new, innovative products and services—and fuel a rise in profits from innovators who can take advantage of the opportunity.
John Howell, Editorial Director
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