(Excerpted from Integrated Wellness Coaching by Laurel Alexander, published by Singing Dragon 2022)
Following World War II, Americans and Europeans were rebuilding their economies. In the years that followed (1946-1964) many babies were born who became known as the Baby Boomer generation. A significant portion of the population is now over 55. These educated consumers are a major market segment for the health and wellness industry and entering their golden years. Concerned with improving their health and maintaining quality lifestyles, the golden boomer generation spends on diet fads, healthy foods, supplements and exercise. They expect vitality long into retirement when their health and wellness priorities take another form e.g. positive ageing, lifelong learning, financial security and retirement concerns. Some ideas on how you can make money from this lucrative sector:
- Relationships – relationships are a high priority as 35% are said to be rebounding from a divorce. There is room for LBGTB, over 50’s dating etc.
- Keeping fit – you might consider a coaching practice offering weight loss and personal training. Aquatics and extreme sports appeal to this group. You could offer coaching in these areas – maybe even blending the concept with health and wellbeing tourism such as a coastal retreat.
- Eco-experience retreats – wilderness retreats, speciality tours e.g. local food and wine.
- Voluntourism – a combination of voluntary service to a destination and the elements of travel, culture, geography, history and recreation in that destination.
- Retail – consider the interests of this target group and you might want to offer: food, wine, fitness clothing and wired wellness.
- Coaching consultancy – could be baby boomer relocation e.g. from one country to another or from one lifestyle to another. Another area could be creative retirement coaching.