2013 is the year that the Western world reaches the ‘demographic cliff’. Its BabyBoomers (born between 1946-70) are the largest and wealthiest generation that the world has ever known. Now they are ageing rapidly. They have less money to spend as they move towards retirement. And they mainly buy replacement products, not new ones, as they already own most of what they need.
The average Boomer joined the Wealth Creator 25 -54 age group in 1983, powering a 25 year economic SuperCycle from 1983 – 2007. But today, in 2013, the average Boomer enters the New Old 55+ age group.
Companies and governments have been very slow to recognise the arrival of this demographic cliff. But it is not too late. In this 3 minute interview the blog discusses the Outlook for 2013, and highlights the new opportunities that will enable companies to sustain growth for decades to come.
Please click here to view the interview.