The sheer number of Baby Boomers makes them one of the most influential generations in the world. Born between 1946 and 1964, these 51- to 69-year-olds represent some 450 million people worldwide according to the AgeLab research organisation at MIT university in the US. They’ve shaped the world as we know it today and their numbers are increasing faster than any other age group as a result of longer life expectancy and declining fertility rates.
They’re also a prime market for health clubs and spas, both thanks to their higher levels of disposable income than other population groups and their loyalty: in his White Report, which monitored club member retention levels over a period of 48 months, Dr Paul Bedford found that 22 per cent of those aged over 55 were still members by the end of the four years, compared with just 5 per cent of those aged 16–24.
But as people age, their biological, psychological, social and economic characteristics, needs and expectations change. “Global consumer product and service companies that start now to assess, adjust and update their product offerings to best serve this evolving and increasingly influential 50+ market will be far more likely to grow their consumer base and to reap great rewards,” says the 2008 Deloitte study Wealth with Wisdom (see p66).
Are gyms and spas really ready for this demographic shift? How can they adapt their design, programming and service style to make them age-friendly? Given that Boomers reject the idea they’re ‘old’, how can changes be made without singling them out? We ask the experts.