A golden opportunity all baby boomers should be in your marketing sights, says Madonna Melrose.
It has been said that all entrepreneurs should take note as baby boomers will rule the economy in the future. According to Bernard Salt, trend forecaster, baby boomers will wield significant economic power over the next decade and small businesses can prosper from their retirement.
Salt, a partner at KPMG, says “an important transition is taking place whereby the baby boomer generation (born from 1946 to about 1966) are reaching the official retirement age of 65.This opens up new opportunities for business-minded people to service what Salt calls the new narrative of life that will be lived between 55 and 72″.
So how will this or should this affect your spa or salon?
There are 4.5 million people passing through the baby boomer phase over the next decade, where previously there were barely 2.5 million people.
Baby boomers are intrinsically high consumers compared to previous generations of older people who were more frugal and modest.
It’s an opportunity for your spa or salon to determine what this group of both men and women will want and need and how your services and treatments can be part of that solution.
According to Salt the baby boomers will actually remain part in work and part-retire therefore they will have big expectations.
As a result businesses should reconsider their marketing strategies for this transitioning demographic. Over-55s policies or terms and conditions which group baby boomers in with 80-year-olds – people their parents’ age – is actually offensive to a healthy and vibrant baby boomer. You should no longer assume they have booked into your salon for a grey rinse!
Disposable income and lots of time on their hands sounds like the perfect combination for a spa client to me but are we embracing this generation?
Do they know they are welcome in your place of business? Are they aware you have something on the menu especially for them? Do you honour the senior’s card with a special discount on certain days or times of the week?
This is a wonderful opportunity to grow your clientele and all you need to do is be a little smarter in your marketing approach.
Have you considered a pop up spa or salon at the local club or retirement village to give these baby boomers a taste of your services? Mini mani’s and pedi’s might be the ticket or perhaps a gentle hand treatment or neck massage. If there is a local social group in your area you could tap into it and invite the members into the spa or salon for an open evening to help demystify the whole spa concept and let them know what you can offer them.
Let’s face it, this age group may not know what goes on inside your walls and they may never have experienced a spa treatment so you need to educate them and take them by the hand.
A business that recently catered for the over 55’s reported that the baby boomers actually liked the vibe of having younger people around them. They liked to think they’re younger than they are and so to be surrounded by younger people was a real benefit.
Target this section of the community with a specially designed menu and remember marketing to an age-range that has vastly different skills and experiences could take you out of your comfort zone but the rewards could be great.
The preceding generation, the baby boomers’ parents – were the people that fought in the Second World War and as kids went through the Great Depression. This new generation of retirees are fitter, healthier and savvier so in my mind you should be creating a space and menu in your spa and salon just for them.
I missed out on being a baby boomer by just one year and I can tell you I am not ready for bingo just yet!
Makeup artist and consultant, educator and beauty editor Madonna Melrose has been involved in the beauty and fashion industries for nearly 3 decades. She has experienced all sides of the industry as a cosmetics Importer, Wholesaler, Distributor and Retailer.