I just finished reading an article by Andrew Zolli in the current issue of Fast Company magazine entitled, Demographics - The Population Hour Glass. As a professional studying this phenomenon and encouraging business to wake up for over 30 years, I was pleased to see the issue highlighted. The demographic portion of the article was certainly on targe; but what business should do about it is a different story.
Unfortunately, the article was also rife with both aging and Boomer stereotypes to include one quote from an anonymous GenXer, "terminal rule by Boomer narcissists." As a leading edge boomer the author seems to offering me three choices, terminal narcissism, employment with a company desperate to find workers, or living my kid's basement. Give me a break, the new consumer majority began changing the market place in 1990s.
The author predicted that, "The real breakthroughs are going to come from companies helping boomers hold on to their youth - and milk it for all it's worth...Watch Grandma wind-surf! Pole Vault! Pole dance!" I may be wrong, but I doubt wind-surfers, pole dancers and pole vaulters were ever major market segments...and add sky divers to that list. It would appear it is not the baby boomers that can't let go of youth; but the mainstream media and business strategists that can't seem to accept that the past is no longer prologue.
There is a difference between wanting to stay healthy and active and wanting to become a narcissist, which is basically what the author seems to be predicting. In my experience, this approach will lead erosion of market share rather than profits. Playing sixties rock music and showing dancing hippies is not about make me trust a financial adviser, in fact it helped me decide what company I do not want to do business with in the next decade.
There are a growing group of professional that have identified an inclusionary approach to marketing and new business development that reaches across generational line rather than attempting to manipulate them. I would admonish strategists to remember the words of John Shed, "The future not having been born, we should refrain from baptizing it."
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