Healthy 50+ Americans Represent Prime Target for Marketers of Wellness Products

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Finan­cial and phys­i­cal well­ness have become main­stays of Baby Boomers, as they and oth­er influ­en­tial old­er Amer­i­can adults con­tin­u­al­ly dis­cov­er that some things in life tru­ly do get bet­ter with age —includ­ing them­selves. Accord­ing to "Healthy 50+ Amer­i­cans: Trends and Oppor­tu­ni­ties in the Emerg­ing Well­ness Mar­ket," by Pack­aged Facts, changes in think­ing about what it means to get old have occurred along­side a ris­ing con­cern by con­sumers of all ages about doing what it takes to improve their health and well­ness.

As Boomers turn 50 and enter their 60s, they car­ry with them a firm belief that get­ting old­er means get­ting bet­ter. Many look at aging sim­ply as anoth­er life stage filled with oppor­tu­ni­ties for rein­vent­ing them­selves and expe­ri­enc­ing new pos­si­bil­i­ties for per­son­al growth rather than as a sig­nal to wind down their lives,” says Don Mon­tuori, pub­lish­er of Pack­aged Facts.

The report defines “Healthy 50+ Con­sumers” as the 26 mil­lion Amer­i­cans 50 years and over who are purs­ing a well­ness regime that includes healthy eat­ing and reg­u­lar exer­cise activ­i­ties such as fit­ness walk­ing or swim­ming. Healthy 50+ Con­sumers have an aggre­gate house­hold income of $1 tril­lion, and com­prise 25% of adults in their age group and 12% of all adult con­sumers. Pack­aged Facts projects that the aggre­gate house­hold income of Healthy 50+ Con­sumers will total $1.3 tril­lion in 2015, rep­re­sent­ing cumu­la­tive growth of 29% between 2010 and 2015.

The finan­cial strength of Healthy 50+ Con­sumers makes them a for­mi­da­ble force regard­ing the nation’s big pic­ture eco­nom­ic sta­bil­i­ty and recov­ery. Near­ly one in four (24%) Healthy 50+ Con­sumers has a house­hold income of $100,000 or more, com­pared to 17% of oth­er con­sumers in this age group. They are also more con­fi­dent about the over­all econ­o­my and their own finan­cial futures. In addi­tion, Healthy 50+ Con­sumers shop more often, dine out more reg­u­lar­ly and trav­el more fre­quent­ly.

Mar­keters of con­sumer goods and ser­vices have made Healthy 50+ Con­sumers prime tar­gets. And because healthy eat­ing is a key aspect of a well­ness pro­gram for those in the 50+ age group, food com­pa­nies have begun to aggres­sive­ly tar­get the cohort, espe­cial­ly since Healthy 50+ Con­sumers are a crit­i­cal seg­ment for super­mar­kets and spe­cial­ty food stores focus­ing on organ­ic and nat­ur­al foods. Fur­ther, exclu­sive data from Pack­aged Facts’ con­sumer sur­vey indi­cate that Healthy 50+ Con­sumers are far more will­ing to pay a pre­mi­um when pur­chas­ing “bet­ter-for-you” gro­cery prod­ucts com­pared to their peers.

[Source:  "Healthy 50+ Amer­i­cans: Trends and Oppor­tu­ni­ties in the Emerg­ing Well­ness Mar­ket."  Pack­aged Facts.  28 Mar. 2011.  Web.  31 Mar. 2011.]