Aging Americans Spur Slew of New Products and Services

In Minnesota alone, 60,000 Baby Boomers will turn 65 this year, next year and every year until at least 2030.

That’s a big market for business entrepreneurs. And this generation of seniors is like no other when it comes to seeking out and adopting new products to enhance their lives as they age.

From orthopedic shoes that don’t look, well, orthopedic to new housing options to senior-specific dating sites, the boomers are blazing their own path, again. And they’re doing it with the help of enterprising entrepreneurs who understand the power of the rapidly growing market of older consumers.

In fact, the longevity market, as it’s called by AARP, currently has annual economic activity of $7.6 trillion. Yep that’s trillion with a T, according to an article in the New York Times.

What products or services geared toward older consumers do you see a need for? If you were an entrepreneur with an eye toward the longevity market what would you pitch?

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