photo toddnoordyk.com)

It’s a world of laughter
- A world of tears
It’s a world of hopes
- And a world of fears
There’s so much that we share
- That it’s time we’re aware
It’s a small world after all …
-Written by Richard M. Sherman and Robert B. Sherman

BMI (body mass index): A ratio of weight to height (weight in kilograms divided by height in meters squared) BMI = kg/m2

The other day I was working with a gastroenterologist (GI doctor) who was sporting a smart looking Mickey Mouse watch. She had acquired it on a recent family vacation to Disneyland. This sparked some conversation about the land of enchantment and some of the rides they experienced. Of course I had to ask about the Small World ride.

The line: It’s a small world after all (sorry now that it’s stuck in a circular loop in your head), has been the subject of many jokes and comments throughout the years; but what followed was a new twist to me. Seems the ride had been out of commission for repairs and the reason…

Well, there is some controversy surrounding the reason the ride was shut down in 2008. The ride has been around some 45 years and the original flume and fleet of boats made their maiden voyage during the 1964-65 New York World’s fair. The sturdy little pastel boats have been doing yeoman’s work ever since. No doubt that kind of run would even cause Cal Ripken to pit stop for some refurbishments.

According to MiceAge the Imagineers of the 1960’s designed the ride to accommodate the average man (175lb) and woman (135lb) of the era; not the adult of today who can often weigh more than 200lbs. The boats ride lower in the water and tend to “bottom out,” causing the whole contraption to stop in its tracks. The solution (prior to redesign) was to limit passengers or escort embarrassed patrons off the ride.

Several stories including one in the New York Times call on readers to draw their own conclusions. The subject is somewhat taboo and Disney denies any connection between redesign and weight of the riders.

Whether the connection is valid or not the fact remains Americans are getting heavier on average. According to the U.S. National Institutes of Health, approximately two-thirds of adults age 20 or older are overweight or obese with BMIs greater than 25, and nearly one-third have BMIs greater than 30. Less than one-third are at a healthy weight with a BMI of 18.5 to 24.9.

In my own experience as a nurse I’ve witnessed hospitals having to equip ceilings with steel I-beams to support mechanical lift systems to get obese patients in/out of bed. A recent staff development in many care settings are the “Lift teams.” These are designated staff whose sole job is working the lifts and turning patients—in order to save nurses from back injuries.

Kaiser Permanente purchased a fleet of love-seat sized wheel chairs years ago to accommodate the increased girth of its members. I once took one of these devices to a presentation at Nike World Head Quarters…they couldn’t believe their eyes as I rolled it in the room.

At issue are not just the obvious effects of BMI on health and longevity but control of one’s own experience and for this discussion that means aging in place.

It’s About Control (but not what you might think)

In an article from Newsweek (Feb/23/2009): Stress Could Save Your Life, author Mary Carmichael writes about the connection between control and stress. Carmichael notes a classic study where scientists put two rats in a cage, each locked to a running wheel. The first rat could exercise whenever he liked. The second was yoked to the first and forced to run when his cage-mate did.

The exercise that usually decreases stress and encourages neuron growth in the brain did just the opposite in the second rat—the reason…control. Psychologists know that one of the biggest factors in how we process stressful events is how much control we have over our lives. A body rendered un-available due to high BMI can place limits on personal control (mobility and independence). Much of the appeal of aging in place is about choice—to make the issue relevant is to frame it as matter of control.

Research has shown that by avoiding a further increase from 28 kg/m² to 32 kg/m², a typical person in early middle age would gain about 2 years of life expectancy. Two years of extra life down the road might not sound all that compelling to some, but the issue is really more one of extending health—not extending life.

Inactivity doesn’t necessarily shorten the life-span…it most definitely shortens the health-span. –Dr. Rosenburg, Tufts University

Extending the health-span can equate to maintaining mobility and independence; ultimately leading to a higher degree of control (& decreased stress) over one’s life experience. And that’s what aging in place is all about.

See:

Calculate: Your BMI
Research on life expectancy
Middle aged women and stroke
It’s a small world video

Mature Market Experts: more boomer, senior and mature market news and stats you can use, more often: AARP Responds To Facebook, MySpace, LinkedIn and Twitter- AARP’s updated website (www.aarp.org) reflects its 276,000-member online community’s growing appetite for social networking. More than 27% of American boomers already are using sites such as Facebook, MySpace, LinkedIn and Twitter. The importance of online social networking among its target audience prompted AARP to ensure that its website can share content between the various online sites. Improved navigation and search capabilities have also been incorporated. Within the next month consumers will be able to access online content with hand held devices, such as smart phones, mobile phones and e-readers. This premier senior organization is responding to the hurdles some elderly experience when using computer technology. See our blog from June 15th, 2010,  Mature Market Experts Stat of The Day: Mature Market Frustration with Technology. Apple Are You Listening? If you want to effectively reach the 50+ audience, take heed.
To read more click here.

PS  I don’t know if you’ve noticed, Mature Market Experts has added Twitter and StumbleUpon widgets in the upper left hand corner of our site.

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Google Analytics and Analyzing Internet Data – Internet technology has become a tool that businesses selling to seniors can not afford to ignore. As boomers, seniors, and the mature market rely on it for everything from social networking and entertainment to price comparisons and online purchases, a side benefit is that enormous amounts of information becomes available for collection and analysis. Businesses and advertisers marketing to the baby boomer consumer could design their product and message based on these statistics. Last week’s 27th annual symposium of the University of Maryland’s Human-Computer Interaction Lab brought government researchers, business financial analysts and computer scientists together to debate how to organize and display this gold mine of information in a beneficial way. To learn more about how this endeavor may help your future business click here.

At a minimum, you owe it to yourself to look at your Google Analytics to see if you are focusing your website’s keywords on the right terms (this assumes that you’ve been paying for Google Adwords …. if you haven’t been, it is worth doing just to see what valuable information you can glean). And while you’re at it, plug your website’s url into www.websitegrader.comfor an eye-opening view of your website’s flaws.

Enjoy!

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Who Are You Marketing To? If your business is marketing consumer goods or services to a specific ethnic segment of the elderly population, the Administration on Aging’s website will be of interest to you. You can find various stats on the United States baby boomer population, such as the senior population projections for the Hispanic population over 60, 65 or 80. Breakdowns on the mature market’s racial makeup are provided by state. Statistical profiles for African Americans, American and Native Americans, Latinos, and Asians, provide numbers and percentages compared to the general population. Living arrangements, education and income levels, life expectancy, chronic medical conditions and access to health care are all accessible at this valuable website. To learn pertinent facts about your market click here. 

With the demographics of age and race in the US shifting exponentially, if you haven’t thought about how you’re going to address these new mature market opportunities, there is a good chance you’re missing out … which is why over a year ago, we added Elianne Ramos, an expert in Hispanic and Latin American markets to the team. Happy Cinco de Mayo!

Apple Inc.'s new iPad can make web browsing easier for aging eyes.

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Will the iPad Attract Seniors to Your Website? Maybe your business has nothing to do with computer technology, but everything to do with advertising to Baby Boomers. According to nielsenwire, the last five years has seen a huge growth in the number of seniors actively using the Internet (more than 55 percent, from 11.3 million active users in 2004 to 17.5 million in 2009).

So, what does Apple Inc.’s latest product, the iPad, have to do with you? If you are unfamiliar with this gadget, imagine a hybrid of a tablet computer, the iPod and select features of the iPhone (its not a phone).  It’s screen size is comparable to a small laptop. Yet, it only weighs 1.5 pounds and is a mere half inch thick. The large Multi-Touch screen is extremely easy to use and allows boomers to view vibrant, sharp web pages in their entirety. Making things very readable for senior eyes! Instead of using a cursor, just touch with a finger tip. It comes off the shelf with features that enable people who have vision impairment or are deaf or hard of hearing to use the iPad. So, those in the 65+ group that are currently put off by computers may soon be viewing your web site and internet advertising. Watch this Steve Jobs’ video, it’s as he’s talking directly to and for boomers.

How to capitalize on this new opportunity? Allen Moon suggests in his article, How the iPad Will Change the Way You Do Business, “Make sure your site has a blog that features regularly updated articles your target audience will find useful and entertaining. You can even create videos… include more interactive social media features on your site. These features are the most effective way to encourage your users to pursue an ongoing relationship with you and your other customers, and form a community around your business.” Marketing to seniors via the internet may become easier as the iPad’s popularity grows. Even online reviews, from sites such as sites like Yelp, Citysearch and Yahoo! Local, will be more accessible to boomers as they can easily read enlarged e-mail messages while on the go with this mobile device. A smart marketing plan will take these developments into account in order to take advantage of this technology in the next few years.

sources:
www.apple.com

Work — what they (sort of) mostly do and expect to retire at 66.  Now here’s where things get interesting: 8% work part-time, 6% are self-employed, 5% are looking for work, 7% are on disability, and 8% are fully retired.  Let’s turn that around and see it for what it is:  only 60% work full time for companies! Somewhat ironically, they expect to retire at 66, although 50% plan to either take their social security benefits earlier (before they are eligible for full benefits) at age 65 or get the partial benefit at age 62. Delusionally-speaking, 69% have set the date for taking social security as exactly the same as they said it was two years ago — despite declining value of their assets and the state of the economy, not to mention their level of employment.

What, me worry?  Here’s where the delusional part really begins in earnest. Sixty-six percent of them have one or both living parents. Half of them have children still living at home. But what are they concerned with — despite these two arguably significant future care-related issues? Twenty-five percent worry about affordability of their own health care, and only 18% of the respondants worry about remaining useful. Only 15% imagine they will want to or have to work part-time in their retirement years; only 13% of them worry about funding long-term care needs, and only 12% of them are concerned with outliving their money.

Middle boomers — read the older boomer tea leaves. In another MetLife report from October, the real world of older boomers is explored in the pleasantly-titled Buddy Can you Spare A Job? Three-quarters of today’s older boomer workers expect to work for pay after retirement, but fewer than 35% report actually making it happen.  Meanwhile, turns out that working in retirement correlates with better health. From this, we can conclude that older boomers need the money. Middle boomers will need the money too, and not just for their own health care costs. And it doesn’t hurt that working can be engaging, that it provides you with a purpose, and that it keeps your mind from rotting.

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – 5 Important Trends for The Ages - Ever since I wrote Death of the Continuing Care Retirement Community on our Mature Market Experts blog, people have been asking me what the future holds for our aging population. Here are some trends I see that will change the lives of aging baby boomers and seniors:

1. Virtual communities – With the help of technology, organizations such as the Village to Village Network are successfully changing how seniors age in place. By offering a wide variety of services – from in-home preferred vendor lists, cultural and social events and member-to-member volunteer opportunities … to health and wellness programs, educational and special interest programs and community service – all accessible via phone or computer – organizations such as these are making it easier for people to successfully age in place.  Beacon Hill Village in Boston, founded in 2001, is a great example of this, as is the newer Mill City Commons.

Please note, that I said, “successfully” age in place. Adding elements such as common dining tables and happy hours at local partnering dining establishments, along with the transportation to get there, adds an important social element that was previously missing from this sort of offering.

Baltimore/Washington has become a hotbed for these villages. According to a recent Washington Post article, there are six in Washington, DC, at least two in Fairfax County and eight others in various stages of development in Montgomery County. I expect the rest of the country will soon follow important trend.

2. New Urbanism – This “new” trend was supposed to happen a long time ago. I think a couple of things are finally conspiring to make it more likely to happen now:

a. Urban land values have dramatically dropped, allowing creative developers to take advantage of better pricing

b. Towns and cities have become desperate for tax revenue making them more amenable to developers’ designs

c. The recent recession has altered the “bigger is better” mindset that had taken over housing … which means the more modest square footage available in urban living is becoming more acceptable (that being said, I wouldn’t build anything less than 2 bedroom floor plans if at all possible)

d. Boomers don’t want to move to a “retirement” community and understand the benefits of urban life

Again, smart retirement community developers will understand these trends and meld them into their plans. A perfect example of this is the The Cardinal at North Hills, which is a full-service retirement community being built in the heart of North Hills, a newly revitalized part of Raleigh, North Carolina. North Hills’ wonderful array of new shops, restaurants, and entertainment venues become tangible amenities of The Cardinal and a key component in their marketing.

3. Technology – The key to executing excellent ideas like virtual communities is efficiencies. Technology provides the efficiencies that allow models like this to work for the very first time. Just as important, the technology now allows for the monitoring of a senior’s vitals (and non-vitals). According to a recent report, Caregiving in the US of 50+:
• 23% of caregivers reported utilizing an electronic organizer/calendar
• 16% use an emergency response system
• 12% utilize electronic information with their doctor or care manager,
• 10% reported using electronic sensors to detect safety problems
• 7% said they use website/software for health records

Again, just as important is the use of technology for social contact, for example email and Facebook. Recently, my children introduced visual Skype to their grandparents. It is advances like these that mitigate some of the risks associated with social isolation.

Look for investors to continue to pour money into health care/social issue technology.

4. Mini-retirements/lifelong employment – Boomers tell us they’re going to work far beyond age 65, for two reasons; necessity and fulfillment. Yes, boomers and seniors have been hit extremely hard by the recent recession … but I also believe that people are beginning to understand that life “engagement” is essential to good health (this is particularly important for the brain). As a result, I believe many boomers who would have previously turned to retirement will turn to “mini-retirements,” meaning vacations of one month or more. These longer vacations allow for the opportunity to invigorate the mind and soul in a more meaningful way than the traditional vacation (this concept was first espoused by Tim Ferriss, who wrote an interesting book called the 4-Hour Work Week).

Today, it’s a lot easier to slip between the world of work and play, thanks to technology. It’s now just as easy to get most work done from the sunny Caribbean as it is from DC, New York, Chicago, or LA. I predict that we’ll see this as a growing trend … longer careers dotted with mini-retirements.

If you operate a retirement community with monthly service fees, make sure you offer an adjustment for these long lapses in their occupancy. Otherwise, you might be scaring off some of your younger residents who like to travel. In addition, make sure that your community offers administrative services, that working residents can utilize at a cost. Making it easier to maintain their business, will make it easier to choose your community.

5. Health care plans will begin to pay for prevention – as I discussed in the point above, research is beginning to show us that if you don’t use it, you lose it! Health care companies will begin to focus on preventive health care rather than reactive health care. Expect to see more health plans adopt programs like Silver Sneakers. Why? Because it saves the plan money, helps with new member recruitment, while at the same time assisting in member retention.

Brain fitness will be a key component of this plan, as the costs of Alzheimer’s and dementia threaten to ravage the US health care system (there are now nearly a half million new cases of Alzheimer’s each year; and by 2050, it is expected that there will be nearly a million new cases per year).

Developers of retirement communities and active 55s would be wise to partner up with these preventative programs, as they will become an increasingly important marketing “amenity” in your community. Note: I recommend reading The Anti-Alzheimer’s Prescription.

Remember, when it comes to building housing for seniors, it’s all about control. A senior who is tackling the aging process is looking to remain in control of their life. That’s hard to do, when your body is letting you down. Anything you can do as a developer/operator that enables them to maintain that goal gets you closer to a sale.

About the author: Tom Mann is the Managing Partner of TR Mann Consulting, a marketing/advertising firm that specializes in marketing to boomers and beyond.  In the last ten years, he has helped sell over 7 billion worth of retirement communities. He is also the co-founder of Mature Market Experts.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Baby Boomers Starting Businesses At Record Pace. Who would have predicted that baby boomers (particularly those 55 to 65 year olds) are more willing to take on the risks of becoming an entrepreneur than younger coworkers? A recent study by the Ewing Marion Kauffman Foundation indicates that they are much more likely to so than the 20 to 34 year old age group. Layoffs and dips in their retirement savings may be spurring this trend. To read about this article in entrepreneur.com click here.

Personally, I think this trend may have more to do with life satisfaction than it has to do with finances. 

One of my favorite movies scenes of all times is when middle-aged baby boomer Evelyn Couch (Kathy Bates in the movie Fried Green Tomatoes) is waiting patiently for a parking spot in a shopping center. Just as the spot becomes available, two young girls in a cute little car cut in front of her and steal her parking spot.

Evelyn Couch: “Hey! I was waiting for that spot!”
Rude Girl: “Face it, lady, we’re younger and faster! “

Then, Evelyn calmly and coolly reeves up her car and then repeatedly rams her car into the back of their tiny VW Bug, smiles and says, “Face it, girls: I’m older, and I have more insurance.”

As our population ages, and as the senior population continues to possess the lion’s share of our country’s disposable income, it becomes more and more apparent to me that the mature market rules — or can choose to rule as Kathy Bates’ character did.

Research from Harris Interactive says that retirees feel that Madison Avenue has forgotten they exist. The study, commissioned by the TV Land cable network, shows that two-thirds of adult TV viewers say that most television programming and advertising is targeted at people under 40.

In cities around the county, an eye-popping 80+ percent of mature market respondents over 40 claim they can’t find TV programming that portrays their lives. The sooner programming reflects seniors’ interests, the sooner they will buy the advertised products. OK, maybe they aren’t rushing out to buy Apple IPads yet, but the mature market still buys a ton of consumer products.

I think these PowerPoint slides accurately capture the insanity of this situation.

Truth be told, I could care less if the mature market buy doesn’t buy products from marketers who are asleep. But I’m smart enough to know that economics is very often the driving force behind our society. How much longer will society devalue the mature market’s contributions (current and future)? If we are going to climb out of this recession, we need to recognize both the economic and social value of the senior population.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – After the Downturn, Will Seniors Retire? A new study released by economists Thomas Steinmeier of Texas Tech and Alan Gustman and Nahid Tabatabai of Dartmouth College suggests that most baby boomers will recover sufficiently from the 2008/2009 economic downturn to only slightly delay their retirement plans.The study purports that the average worker close to retirement age (53 to 58) holds only about 15.2 percent of their money in the stock market. The rest of their projected wealth comes from anticipated Social Security Benefits, pensions and other assets. [Author's note: this is based on the University of Michigan's Health and Retirement Study - does Michigan have a higher percent of pensioners than the rest of the country?] Also, the study’s authors suggest that the recession may actually encourage retirement for baby boomers in a very competitive job market. To learn more click here.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Boomers 55+ Housing Wish List. Just what are baby boomers looking for in the real estate market? And what are they actually willing to pay for? According to a recent survey prepared by NAHB (National Association of Home Builders) and the MetLife Mature Market Institute, “55+ Housing: Builders, Buyers and Beyond,” here are the key findings :

• Where Are They Now? Roughly 9% of the respondents live in an active adult age-restricted community, 7% live in a community that is not age-restricted but where most buyers are 55 or older, and 28% live in an independent living community. However, many would consider other options.
• Stay or Go? About two-thirds of respondents (63%) plan to age in their current homes, while 12% plan to buy another home. About one-quarter (26%) are not sure.
• Suburban Life Preferred: The majority of respondents prefer a home in a suburb, with 32% wanting to live in close-in suburbs and 31% in outlying suburbs. In comparison, 28% prefer a rural community, while only 9% want to live in a central city.
• One-Level Living: Respondents overwhelmingly prefer a single-story home (79%) over a two-story home (15%) or a split-level home (7%).
• “Same-Sizing” the New Home: The median size of the respondents’ present home is 1,886 square feet, compared to the median 1,903 square feet they want in a new home. More than half of respondents (51%) prefer three bedrooms, while 18% want four or more bedrooms. About three-quarters prefer the master bedroom on the first floor.
• Downsize on the Price: The median price respondents expect to pay for their next home is $189,426, which is less than the median price of $198,119 paid by those respondents who bought a home within the last three years. This compares to their current home, which has an average market value of $267,401.
• Top Five Inside Features: The five features rated most important were: washer and dryer in the home/unit, storage space, windows that open easily, master bedroom on the first floor in a two-story home, and  easily usable climate control (thermostat).
• Green Is Good, but Not Key: About one-quarter of 55+ respondents do not care about the impact building a home has on the environment. While another 23% said they are concerned about the environment, it does not drive their decision to purchase. Only 12% said they would pay more for an environmentally friendly home. Respondents are willing to pay an average amount of $6,732 (median $4,000) if it would save $1,000 annually in utility costs.
• Top Five Green Features: Respondents cited energy-efficient appliances (79%), followed by solar heating (63%), water filtering systems (58%), allergen-free/chemical-free building materials (42%), and open space (37%).
• What’s Close By? Most respondents listed proximity to a shopping center as influencing their choice of a new community (57% noted it as Somewhat to Very Important), followed by proximity to a hospital/doctor’s office (55% rated it as Somewhat to Very Important).
• Online Is a Must: Technology features are important to 55+ consumers, with 83% of respondents rating high-speed Internet access as Somewhat to Very Important. Also earning high ratings were home security systems and structured wiring (a system of low-voltage wires designed to carry electronic signals throughout a home).
• How Buyers Are Paying for Home: Nearly half of the 55+ respondents (41%) prefer a 30-year fixed loan when purchasing a new home, followed by a 15-year fixed loan (38%). A small number (5%) preferred a reverse mortgage, some type of adjustable rate loan (5%), or an interest-only loan (3%).
• Less Maintenance, More Family Are Top Motivators: Builders were asked to indicate their 55+ customers’ motivations for relocating. Sixty-three percent of builders reported a desire for a maintenance-free lifestyle from their customers, 46% a desire to move closer to children/family, and 32% a desire for lower living costs.

If you are in the senior housing industry (whether you are building, selling or renting active 55+ retirement communities or continuing care retirement communities), this report is a must read.

About:

The MetLife Mature Market Institute®

Established in 1997, the Mature Market Institute (MMI) is MetLife’s research organization and a recognized thought leader on the multi-dimensional and multi-generational issues of aging and longevity. MMI’s groundbreaking research, gerontology expertise, national partnerships, and educational materials work to expand the knowledge and choices for those in, approaching, or caring for those in the mature market.

MMI supports MetLife’s long-standing commitment to identifying emerging issues and innovative solutions for the challenges of life. MetLife, a subsidiary of MetLife, Inc. (NYSE:MET), is a leading provider of insurance, employee benefits, and financial services with operations throughout the United States and the Latin American, European, and Asia Pacific Regions. For more information about the MetLife Mature Market Institute, please visit: www.MatureMarketInstitute.com.

Contact:
MetLife Mature Market Institute
57 Greens Farms Road
Westport, CT 06880
(203) 221-6580 • Fax (203) 454-5339
MatureMarketInstitute@MetLife.com

National Association of Home Builders

The National Association of Home Builders (NAHB) is a Washington, D.C.-based trade association representing more than 200,000 members involved in home building, remodeling, multi-family construction, property management, subcontracting, design, housing finance, building product manufacturing, and other aspects of residential and light commercial construction. Known as “the voice of the housing industry,” NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB’s builder members will construct about 80 percent of the new housing units projected for 2009.

Contact:
National Association of Home Builders
1201 15th Street, NW
Washington, DC 20005
(202) 266-8200, x0 • Fax (202) 266-8400
www.nahb.org

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – New Industry Helps Seniors Downsize and Relocate. Getting people past the fear of downsizing has long been a hurdle that those of us who sell retirement communities, assisted living, or nursing care have long had to deal with. There are over 78 million baby boomers, plus their seniors, who may need to move to more suitable housing in the future. With that comes an awful lot of hand-wringing and resistance, in addition to the physical challenges moving presents to an elderly population. Enter “move management” consultants, who do everything necessary; decorate the new residence to look like the old familiar one, reassure the client, and coordinate the actual movers. Here’s an excellent article by Thomas Heath of the Washington Post that captures some of the challenges of downsizing, click here.

PS    The TR Mann Consulting team … and the loose band of compatriots at Mature Market Experts would like to wish you a Happy New Year!

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – US  Companies Are Unprepared for Baby Boomer Retirement from Workforce. An overwhelming majority of surveyed domestic companies are unprepared for the exodus of boomers from their companies, according to a recent study by Sloan Center on Aging & Work at Boston College, The Pressures of Talent Management. The sudden loss of this pool of experienced talent is sure to throw a wrench into future productivity, unless these companies develop coping strategies. Seventy percent of these firms report not knowing the age of their employees, nor their retirement plans. Forty percent believe retirement of this population will have detrimental effects on their business. The 696 firms studied account for approximately seventy-five percent of the jobs and payrolls in the U.S., employ more than one million workers, and represent the ten leading sectors of the economy. Fifty-six percent of these companies had not assessed the skills they will need. Co-author Marcie Pitt-Catsouphes, director of the Sloan Center on Aging & Work states “The out-migration of a generation of workers will upset the entire balance of the workplace,” “U.S. companies need to start planning strategically for workforce sustainability. The current abundance of older worker talent and experience is going to dry up, and businesses will very soon need to fill hundreds, if not thousands, of jobs.” Some economists expect a shortage of 10-15 million workers in the coming decade. For more info click here.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Why Advertisers Spend More On Drugs That Lack Competition. A new report by The Congressional Budget Office uncovers an apparently contradictory trend in the marketing of brand name drugs. Advertisers spend much more on the marketing of drugs that hold a monopoly than on those with competitors. A medication that is unique will benefit from approximately twice the advertising dollars than a drug that has only one challenger will. Catherine Rampell in The New York Times explains the reasoning behind this anti intuitive behavior as twofold. Advertising in a crowded field delivers less results on the dollar. Secondly, by creating greater demand for a monopoly the drug company can drive up the price. For more information on this report click here.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Number of Baby Boomers Tweeting Doubles. Fall 2009 has seen a marked increase in Twitter use, according to the Pew Internet Project. While  the headlines dwell on the phenomenal usage among the young, mature marketers should note that use by those in the 55-65 age group increased from 4 to 10% in less than a year, and in the 65+ group, Twitter use rose from 2 to 4%. The simultaneous rise in popularity of other social networking sites may foreshadow that Twitter’s senior membership ranks will swell in the near future as this age group acquaints itself with this latest trend. To learn more click here.

To follow TR Mann Consulting on Twitter click here.

Source: United States Department of Labor, Bureau of Labor Statistics

Source: United States Department of Labor, Bureau of Labor Statistics

For more information on this topic, visit here.

Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market – Aging with Style Means a New Luxury Market. According to an ASID (The American Society of Interior Designers) survey of U.S. homeowners, 82% plan to stay in their own home for as long as possible, even if outside assistance and care is required. The survey also found that 52% of American baby boomer homeowners age 45 plus are interested in learning more about how they can age in place – with style not sacrificed for function. Designers see this as an opportunity to develop a new niche market of high end products for mature market homes. For example, the simple grab bar has been redesigned from a purely utilitarian object to something luxurious. So rather than detracting from the look of the home, it actually enhances it. Other modifications being brought into mature market homes include raising the toilet height, lever door knobs, hands-free faucets, lower cabinet heights, and nonslip rugs. To read more click here.

Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market – How to Be Sure Your Web Page Has Enough Color Contrast for Greatest Legibility.  The World Wide Web Consortium (W3C), which sets technical standards for the web, has come up with a formula to check that your site has enough contrast between the foreground and background colors, or when viewed in a black and white mode, to ensure legibility – critical when marketing to boomers, seniors, and the mature market.

Several programming companies have taken this a step further and created a formula to automatically adjust foreground colors to pop against background color as it is chosen by the program user. To learn more about this click here.

From the W3C website: “Two colors provide good color visibility if the brightness difference and the color difference between the two colors are greater than a set range.

Color brightness is determined by the following formula:
((Red value X 299) + (Green value X 587) + (Blue value X 114)) / 1000

Color difference is determined by the following formula:
(max (Red 1, Red 2) – min (Red 1, Red 2)) + (max (Green 1, Green 2) – min (Green 1, Green 2)) + (max (Blue 1, Blue 2) – min (Blue 1, Blue 2))”

There are some fascinating entries here, including evaluating legibility with color blindness (according to W3C  one in twenty people have some form of color vision deficiency), low vision and other disabilities – perfect for those marketing to baby boomers, seniors and the mature market. To see the complete list of web accessibility evaluation tools put out by the experts at W3C click here.

Technical stuff, I know, but making sure your designers (both print and web) have an empathy towards the mature market’s vision issues can make all the difference. For a less technical discussion on understanding vision and contrast, here’s a video of me discussing the issue with the marketing group from T. Rowe Price.

Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market – Are Online Video Viewership Claims Realistic? The October 28th issue of Advertising Age raises some very interesting questions for marketeers to consider before purchasing online ad space. By asking some very pointed questions, author Jim Louderback (the CEO of internet video network Revision3) analyzes the validity of self reported viewings. Sites can claim a viewing even if it was watched for only a second, if a viewer has technical difficulties and repeatedly clicks on play, or even more egregiously, if the video starts automatically when entering a website. Would Nielson TV ratings include channel surfing for less than a second as a viewing? Advertisers wouldn’t stand for it, but they are being duped into just that by allowing the current self reporting to continue to mislead them (wittingly or not). Louderback suggests you ask the following questions when analyzing a site:

“How about multiple views from the same user?”

“How many views do you get for each episode?”

“Is viewership growing, shrinking or steady?”

“How do you count unique viewers?”

“Where do the views come from?”

“Do you pay for any views, or are they all organic?”

How important is this for the mature market anyway?

Keep in mind, that according to Pew that although internet viewing is not the norm among seniors, the 50+ segment of online video viewers continues to grow. In fact, among users ages 50-64, viewership is up 34% from just last year with 41% of this age group now saying they watch video on sites such as YouTube. In 2009, 27% of seniors 65+ now watch videos online, as compared to just 19% last year.

To read more click here.

Mature Market Experts: more news and stats  you can use on boomer, seniors and the mature market – Study Finds Affluent Boomers Are Returning to Spending. Bob Shullman, president of Ipsos Mendelsohn, reports that the well off (households with incomes of $100,000 plus) are still planning to buy expensive consumer goods. He notes that this study reveals an increase in the affluent’s economic optimism in the period ending Sept. 1, 2009 – 54% up from 50% in April and July. The economy has not altered major plans, such as retiring, of very wealthy baby boomers. Also, unaffected by hard times is the number of publications read, which actually increased form 8 to 8.5 in 2009; issues actually read jumped from 17.9 to 19.2. Many business magazines and newsweeklies increased their readership (including TR Mann Consulting’s client GRAND Media) this past year in this specific group. To learn more about this study click here.

Mature Market Experts: more news and stats  you can use on boomer, seniors and the mature market – The Best Type Font to Use on a Website Targeting Seniors? The Software Usability Research Laboratory (SURL) at Wichita State University recently completed a study to determine which type fonts and sizes were most readable to older web site visitors. The results were surprisingly contradictory to conventional graphic design wisdom. The fonts used in the investigation were Georgia and Times New Roman (Times), and the sans serif fonts were Arial and Verdana.  The fonts were displayed in 12 and 14 point type, making a total of eight variations. Predictably, the 14 point type was the most readable and most preferred. Serif type was read faster and sans serif was preferred by the volunteer testers. Click here to learn more.

At TR Mann Consulting, we stress the importance of clean design. Tell your design firm or advertising agency to forget about winning awards and focus on winning customers. For more on communicating with the mature market and understanding senior vision click here.

Mature Market Experts: more mature market news and stats more often – Seniors Keep on Working. Many seniors are are choosing to work into their 70′s and 80′s for various reasons. Due to financial concerns in the recent economy, countless baby boomers are no longer secure that they have the funds to sustain a retirement that could now last more than thirty years due to the increase in life expectancy. Others simply wish to remain busy and active while they are healthy.  The Bureau of Labor Statistics reports that about seven percent of those over 70, or 1.1 million people over 74,  remain in the work force at least part time. The ideal of a retirement filled will leisure and travel has hit up against the harsh reality of decreasing retirement funds and drastically escalating health care costs. “Policy changes like the elimination of mandatory retirement laws and the Social Security earnings penalty for workers who are full retirement age have also made it easier to remain employed later in life, both in full-time and part-time jobs.” says Carole Fleck in the AARP Bulletin. The Center for Retirement Research at Boston College estimates that of those born between 1948 and 1954, 52 percent may be unable to maintain their lifestyle in retirement. Of those born between 1955 and 1964, 64 percent may be unable to retire with ease. To learn more click here.