We’ve talked about this here before, but if you’re serious about making some money in a business, you could do an awful lot worse than pay attention to the needs and wants of the ‘grey’ market. It’s a demographic group which is growing, relatively affluent, and not prepared to accept the sort of products and services which have traditionally been offered to their age group in the past.
I recently read about Marie Kolstad, who became the oldest recipient of breast implants at 83. And she’s far from alone. Over 65’s now account for 10% of the clientele of cosmetic surgery clinics in the US, with over 700,000 procedures a year being performed. Cosmetic surgery is just one of many markets where the older generation are now spending serious money.
Don’t ignore the older generation. You could build an entire business around the ‘grey’ market or develop a version of your product of service which suits their needs and tastes. Either way, they have money to spend, and are happy to do so if they like what you have to offer.