Why Baby Boomers Influence Health and Wellness Sector
Why do baby boomers have such a strong influence on the MLM industry, especially the health and wellness sector? Two reasons: their financial clout, and their numbers. In the United States and Canada alone, their population is in excess of 90 million. And according to a CBS news report, this generation accounts for some one trillion dollars in annual income.
Understandably the market-every market segment really responds to their every whim. When they were younger, the baby boomer generation influenced everything that factories produced, from playthings to foods and much more. More schools were built in their days than at any other time before or after.
Several colleges even redefined curriculum for the sake of baby boomers. And in music and fashion, the mark they left still remains. Just listen to most adverts and tell me what time period the music is set in. Such has been the influence of the baby boomer generation on our national life.
At the moment, they are mostly in their fifties and beyond. And you guessed it; they just won’t let go: they won’t grow old without a fight! Now, they are redefining healthcare and nutrition in ways that’s benefiting not only them alone.
The boomer generation has a strong yearning for staying young and healthy. And they are willing and able to spend money to stay strong for much longer-remember we told you they constitute the richest bunch of the national population!
This nationwide trend is good music in the ears of network marketing companies and marketers. They have responded with an array of high quality healthcare and nutrition products mostly targeted at the aging baby boomer population. It is estimated that the diet, personal care and nutrition industries now gross 100 billion dollars per year, thanks mostly to the boomers!
That’s not all. A recent report also shows that baby boomers in their fifties and above account for 500 billion dollars in direct healthcare spending-a figure estimated to more than double in less than two years.
This generation also accounts for more than half of all credit cards issued in the United States each year. But on a negative note, the American Medical Association also reports that in this country, 56 million people over the age of 50 are living with various types of heart diseases, while another 40 million of the same age bracket suffer from arthritis.
Those are chronic health issues, and there are many more like them that the baby boomers have to contend with. Given their strong desire for healthy living, natural healthcare have become a welcome alternative to them since orthodox medication sometimes fail to meet their needs.
A whole industry has sprung up to cater for the needs of the aging baby boomer generation. Unlike the traditional healthcare industry, the food and nutrition industry provide supplements that heal the body from within, naturally.
The success and popularity of these industries owe a lot to the efficacy of their products on the one hand, and the current preference for alternative healthcare championed by the baby boomers on the other.
Thus, the influence of the baby boomer generation on the health and wellness industry is undeniable. But it has largely been a mutually beneficial relationship. Without the baby boomers, who knows if the food and nutrition supplements would have had the strong foothold they have managed to establish in the healthcare industry.
As for the baby boomers, they surely are forever grateful to this new industry that has given them a welcome alternative to synthetic medicines, and a renewed hope for graceful aging.
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