As our population ages and people have fewer babies, older populations will play an important role in our society. By 2030, they will become the largest consumer market segment for the first time in history.
Back in 1982, I remember devouring futurist John Naisbitt’s bestseller, “Megatrends: Ten New Directions Transforming Our Lives.” Now, Wharton management professor Mauro F. Guillén has published “2030: How Today’s Biggest Trends Will Collide and Reshape the Future of Everything.” It’s equally fascinating, for its predictions ranging from the rise of wealth owned by women to sub-Saharan Africa being the birthplace of the next industrial revolution.
Millennials are quickly becoming middle-aged. By 2035 or 2040, we will see the first retirements among them.‘Gray is the new black’ You say in the book that “Gray Is the New Black.” What do you mean? When large numbers of people turn 60 or 65 start telling brands they’ve used: ‘Look, I’m still here and plan to continue buying, but I’m not the same kind of person as when my father or grandfather was 65.’How do you think we’ll see companies catering to the needs of people over 60 in ways they don’t today?
There has been some good research on using virtual reality to delay the progress of Alzheimer’s and take care of people with dementia.I’m not a specialist in this area, but the single most important way of fighting Alzheimer’s is to delay it. If we can delay Alzheimer’s even two or three or four years, that will make a big difference in the quality of life of a large number of people.
I’m quite optimistic about this, actually. I think employers will turn to seniors much more than in the past, for part-time jobs. This is the sharing economy. It started with Uber UBER, +2.77% and Airbnb and other companies, but we still have many parts of the economy where we could do this. Like clothing: Rent the Runway [a subscription service for women to rent clothes] is still niche; it’s not mass market.
And then, I hate to say it, but the third example is robotics. I think that before we know it, we will have a boom in companionship products the same way we use television.
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