It’s
always a topic of conversation among DR marketers
– What’s “hot”? But what
is “hot” today may be a bad bet in
terms of profits and sales. The so-called “flash
in the pan” like the “pet rock”
of yesteryear is not a trend to follow. There
was only one “Pet Rock”.
So let’s take a look instead at what
trends are popular, with an eye towards those
that have longevity and thus opportunity for
sales and profits not just today, but over the
years to come. The key – long-lived marketing
trends are always based on real societal changes.
One of the biggest is the change in the demographics
of the US population: we are getting older.
The census bureau reports:
- The United States population aged 65 and
over is expected to double in size within
the next 25 years. By 2030, almost 1 out of
every 5 Americans — some 72 million
people — will be 65 years or older.
The age group 85 and older is now the fastest
growing segment of the U.S. population.
- The health of older Americans is improving.
Still, many are disabled and suffer from chronic
conditions. 14 million people age 65 and older
reported some level of disability in Census
2000, mostly linked to a high prevalence of
chronic conditions such as heart disease or
arthritis.
- The financial circumstances of older people
have improved dramatically, although there
are wide variations in income and wealth.
All this means that products and services that
address older consumers’ needs will be
in increasing demand as the years pass. Products
include:
- Health and Anti-aging Information
- Over the counter health remedies
- Nutritional and Dietary Supplements to enhance
health
- Anti-aging skin care and cosmetics
- Any product that allows older Americans
to remain active and enjoying life
- Retirement Information including financial
Management
Products in any of these categories have a
growing market to serve. Some of these product
categories have already exploded -- just about
every major beauty brand has an anti-aging skin
care product of some sort. Nutritional and dietary
supplements to combat erectile dysfunction and
weight loss have been popular for years; the
supplement market in general continues to grow.
The demographic trends indicate the explosion
of products in these areas will continue.
Another product area that is popular
and will remain so for the next several
years: products that address credit and
financial concerns. The current tough
economy and the roots in the housing crisis
will be with us for some time. Large numbers
of consumers have gotten themselves into
difficult financial straights and need
products and services to assist them in
managing their way out of their current
situation. As more and more Americans
approach retirement, the need to manage
finances and ensure a healthy and secure
retirement will continue to stress consumers.
Products that can relieve that stress
and show consumers how to live a happy
retirement without major financial worries
will be in high demand.
The third sociological change area we see that
will continue to spur product demand for years
to come is global warming and concerns for the
environment. Awareness of global warming and
the related environmental concerns are top of
mind for many consumers and the number is growing.
More and more consumers choose organic and green
products as each year passes. DR marketers have
not capitalized on this trend in big ways yet
– probably because the demand only recently
reached critical mass. I suspect it is just
a matter of time before DR marketers address
this consumer need.
In short -- to be successful in capitalizing
on trends, DR marketers need to address those
trends that are rooted in real societal changes
and real consumer needs, fears and desires.
Launching new products and brands that address
these concerns while the consumer markets are
growing can bring long-term success.