Wednesday, December 2, 2009

Hot industries for 21st Century SECOND DECADE
Schools and funeral homes

Each of us lives for 70 years;

or even 80 if we are in good health.

Indeed, they are soon gone, and we fly away.

Psalm 90:10

March 18, 2009 -- More than 4.3 million babies were born in the U.S. in 2007, the highest number ever registered, WebMD states. Total number of births: 4,317,119 -- that's 1% more than in 2006.

Wikipedia describes the post World War II baby boom years as 1946 to 1964, which saw 76-million babies born. Online figures show 10,000 people turning 65 per day in the United States.

Recently unsuccessfully pitched a potential client who had a product serving the baby boom market. This company, run by two entrepreneurs in their 20s, couldn’t see my logic that baby boomers were not going to purchase from their 20-something sales force. Same with the way most advertising and public relations agencies operate. To employers, 20-something employees are desirable. Everyone thinking this way is overlooking a market more than 60-million strong that resents 20-somethings for their youth and vitality. Something the baby boomers no long have – and sorely miss.

People thought I was joking when I said some baby boomers may see the end of the 21st Century’s second decade. It’s hard to argue with the Bible.

So what are the hot industries for the 21st Century’s second decade? First, anything that services students entering school through beginning years of high school – the Tween market (Now you see why I pioneered Tween Music and Tween Marketing in recent years? Same reason established Arizona Centennial in 2003 before anyone realized Arizona was the last continental state to have a centennial.).

At the other end of the spectrum is the baby boom market. While in high school, my daughter volunteered in a nursing home. I told her it was the smartest thing she could do. She was establishing herself – now in her mid-20s – in a growth industry; geriatrics. hospitals, health care (no such word as healthcare), retirement homes, even products like Depends (trust me; I have friends using that already). Oh, also funeral homes.

How is your organization positioned to succeed in these two demographics? Have you even considered these in your strategic plans? When does the second decade begin? Less than a month away.

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