Consumer Trends in Healthy Aging
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The post war boom opened up a whole new world of prosperity and technological advances which followed Boomers throughout their childhood and into adulthood. In fact, due to their sheer size, Boomers have been responsible for the growth of many industries which catered to them throughout their life. However, as they are now entering their 50's and 60's, coupled with economic uncertainty, Boomers are reevaluating their lives. They are looking to regain their footing, to reinvent themselves and find their relevance once again.
The current economic environment is changing consumer behavior on many levels. Boomers, in particular, are taking inventory and realizing many of their past behaviors and attitudes are not sustainable and devoid of real purpose. This introspection is causing shifts in their value set, establishing new paradigms for understanding this highly influential and relevant generation. Consumption is being replaced by sustainability, possessions with purpose, and perceived value with real value. Even further, current indicators show the impact of these changes will not be temporary adjustments but a total realignment of consumer behavior based on a reevaluation of priorities – shifts which may prompt permanent change.
Boomers have consistently challenged tradition throughout their life and aging is no different as they are seeking ways to break the mold of traditional aging. Therefore, as Boomers transition from one stage of life to the next, their desire to maintain independence, vitality, and relevance will drive new opportunities. In fact, the explosion of products and services targeted to this generation now beginning to hit retirement are filling the market to address this phase of their life.
In addition, the health and wellness surge we're currently experiencing, in large part, can be attributed to the health-committed Boomers. It is not surprising, then, that significantly more Boomers than any younger generation admit they are very self motivated about maintaining and improving their health. Health and wellness will continue to grow across all categories from anti-aging, to disease control and prevention, to consumer-directed healthcare, to food functionality, among many other dimensions.
Boomers are being forced to look in the mirror and they want to change the reflection that is looking back. They are looking for their new meaning in every area of their lives; searching for a sense of purpose, looking to connect with community, and seeking a platform for their voice to be heard. They are trading off or even down as long as the trade-offs have benefits that are tangible and relevant. Furthermore, they will continue to affect the workplace as many do not plan to leave it at "retirement" age. Lifetime experiences and leaving a legacy will take the place of consumption as personal reflection will be the benchmark of a life well-lived.
- Annual quantitative study since 2005, now with 7 years of trended data
- January 2011 research of 3,659 U.S. adults comprised of:
- Nationally representative sample based on gender/age/income/education/region/race
- 1,215 sample of Boomer population (46-65 years old)
- 2,444 sample of general population (non-Boomers)
- Balanced to U.S. Census data across key demographics
- Statistically significant at the 95% confidence level to +/- 1.5%
- Conducted via online research methodology
Database Methodology
The Healthy Aging/Boomer Database Summary Content & Scope
Definitions
Introduction
Boomers Will Be Instrumental in Shaping the Future of Healthy Aging
Boomers' Aging is Creating Some Fundamental Shifts
Shifting Boomer Paradigms
It's About Redefinition; Pioneering a New Era of Aging
Multifaceted Drivers of Healthy Aging
Top Issues of Today: Money Issues Rise to Top
Boomer Segmentation Insight
Five Diverse Segments Have Been Identified Across Boomers
Segment Opportunity Overview: Higher Order Need States
Boomer Segmentation Shows Shifts
Chapter 1: Healthy Aging Dimensions
Healthy Aging Attitudes Are Strong
Importance of a Healthy Lifestyle by Boomer Segments
Drivers of Health Maintenance
Satisfaction Gaps Surrounding Health Issues Highlight Areas of Opportunity
Primary Ways to Promote Healthy Aging
Healthy Eating Provides a Sense of Control
Health Claim Benefits Which Positively Impact Purchase Intent of Foods and Beverages
Boomers Are Not Looking for the "Fountain of Youth"
"Looking" Healthy with Food
Anti-Aging Defines STRIVERS
Desire for Specific Ingredients in Diet
Usage Patterns of Ingredient-Specific Foods
Confusion Over How to Eat Healthy Creates Barriers
Healthy Nutrition Polarizes Segments
Use of Foods and Supplements to Ensure Proper Nutrients in Diet
Interest in Supplements for Specific Condition Management
Trended Use of Prescription Medications and Multivitamins
Product Use for Condition Management: A Mix of Self Care and Doctor Directed
Growth of Importance of Experience With Physician
The Expanding Role of the Physician
Satisfaction with Experience with Physician Among Boomers - Trended
Physician's Knowledge and Following Advice
Ageism among Physicians
Chapter 2: Boomer Health Status
Overall Health Continuum Ratings By Generation
Health Responsibility Driven By Uncertainty
Boomer Health Ratings Are Showing Major Declines
Self Reported Health Ratings Highlight Dramatic Differences in Perceived Health State Among Segments
Boomers Are Struggling With a Variety of Health States
BEWILDEREDS Are Struggling the Most Among Boomer Segments
Consumer Concern Over Declining Brain Health
Desire for Ways to Fortify Brain Fitness
Stress is Having Far Reaching Implications
Stress Is Affecting (Causing) a Diverse Range of Conditions
BEWILDEREDS Are Highly Stressed
Boomer Condition Management
Management of Heart Conditions Are Showing Some Dramatic Increases
Drivers of Weight Loss: Health Versus Appearance
Boomer Weight Management is Trending Down; Heart Condition Management Rises
Weight Maintenance and Exercise
Avoidance of Ingredients
Avoidance of Sodium and High Blood Pressure Management
Calibrating Boomer Energy Levels
Inflammation: The Precursor of Disease
Effects of Inflammation Are Underestimated
Boomer Reliance on Healthcare Advances
Chapter 3: Attitudes Toward Healthcare
Uncertainty in Healthcare Drives Self-Responsibility
The Connection of Illness and Financial Security
Importance and Satisfaction of Having Enough Money for Healthcare Expenses
Concern Over the Impact of Healthcare Changes Across Age Groups
Satisfaction with Health Insurance Company
Concern Over Access to Affordable Healthcare
Satisfaction with Understanding of Health Insurance Rules
Reliability of Insurance Company for Health-Related Information
Interest in a Healthcare Plan That Provides Alternative Healthcare Options
Caregiving and Senior Living
Boomers' Fears of Aging
Male-Skewed PETER PANS Show Less Fear
Fear of "Being a Burden on Family or Loved Ones"
The Role of Caregiver
A Third of Caregivers Are "Sandwiched"
Description of Type of Care Provided by Caregiver
Use of the Internet to Research Illnesses
Fear of "The Inability to Stay in Their Home"
Desire to "Age in Place" vs. a Senior Living Community
Moving After Retirement
Attribute Ratings of a Senior Living Community
Perceptions of Senior Living Among STRIVERS
Future Plans for Senior Living
Concern Regarding Ability to Care for Themselves as They Age
Concern About Health During Retirement
Chapter 4: Retirement Planning & Preparedness
Planning For Retirement
Perceived Retirement Preparedness Stabilizing
Boomers Not on Target Financially Have a Bleaker Outlook on Aging
Boomers "Not on Target" with Their Financial Plan – Less Healthy, Higher Condition Managers
Effect of Economy on Financial Factors
Economic Crisis Has Created a "Gap" in Retirement Funds for Boomers
Effect of Economic Instability Varies Across Segments
Behavior Changes Due to Economic Downturn
Health Ramifications of Economic Downturn Among Segments
The Effect of the Economic Downturn on Healthy Food Purchase
Time to Financially Prepare Is Running Out
The Means to Reach Financial Goals Unclear
Boomer Stage Highlights Differing Financial Issues
Trust in Financial Institutions
Financial Barriers Across Segments
Self Reliance as a Means to Maintain Control and Independence with Age
Perceived Reliance on Government and Family
Self Reliance Defines ARRIVERS
Boomers Are Becoming "Savers"
Working Longer after 'Retirement'?
Working After "Retirement" Across Segments
The Changing Landscape of the Workplace
Chapter 5: Connecting: Socially and Environmentally
Economic Downturn Has Created an Increased Desire for Social Connection
Boomers Showing Less Materialism
Charitable Donating By Generation
Social Connections Through Technology
Disconnecting: Trended Information Overload
Regularly Visited Websites
Are Boomers On Facebook?
Self Perception Descriptors Across Boomer Segments
Lack of Control and Support Identifies BEWILDEREDS
Living for the Day: Similar Attitudes Have Different Drivers
Boomers Worry about the Future of the Planet
Environmentalism As Part of Everyday Life
Boomers Are Still Standing Up For Environmental Protection
STRIVERS Take Planetary Health Personally
Environmental and Social Issues More Ingrained in Boomers' Conscience
Chapter 6: Marketing to Boomers
Boomers' Lack of Trust Highlights Opportunities
Intensity of Influence: People Sources
Declining Sources of Influence: Traditional Media
Sources of Influence: Internet Sources
Reliability of Health-Related Website Information
Why STRIVERS Are an Important Segment to Target for Health Products
Advertisement Content Influences Boomers Differently Across Segments
Impact of Age Appropriate Advertising
Self Discovery is Preferred Over Traditional Advertising
Brand Loyalty Is Strong
Brand Versus Price
Attitudes Toward Corporate Socially Responsible Behavior
Impact of Green Attitudes on Purchase Behavior
Impact of Environmental Certifications and Labels on Purchase Behavior
Shopping Experience Versus Product Purchase
Channel Shopping
Redefining Aging
Contact Information