When you’re in the media business (as I am), you become aware of the importance of demographics. It’s no longer enough to be “number one” in TOTAL audience. Instead, a TV show’s success is largely measured in terms of viewers in the key 18-34 demo group.
It’s easy to understand why that “demo” is coveted by advertisers. Young people will be around a long time, and the brand loyalties they develop now will mean lots of business over the years. That’s why marketers of everything from cars to computers put most of their efforts into reaching people in the “Generation X” (ages 26-42) and “Millenial” generations (ages 5-25).
But anyone looking at population numbers, as we do in our “America’s Changing Demographics” series and special, can’t miss a startling trend…
Over the next ten years, the gigantic Baby Boom generation (currently ages 43-61) is going to swell the ranks of senior citizens. And, with nearly 79 million “boomers” (including me), that opens up HUGE possibilities for those selling everything from active adult communities to variable-rate annuities. As one person we interviewed put it, marketers would be crazy to ignore a group of that size. It also opens up all kinds of opportunities for investors.
That’s just one example of how changing demographics are going to mean a different reality in the coming years. Other trends include huge growth ahead in the ranks of minorities -- particularly Hispanic-Americans. Now at about 12% of the population,
Hispanics are expected to double to make up 25% -- not just because of immigration, but because they have a higher birthrate than other Americans. (If you’re selling diapers, you’d be crazy to ignore that).
The bottom line: population change is coming, in a big way. So rather than fight the inevitable, my advice is to anticipate it, embrace it -- and figure out how to make money from it.
Comments
The opportunity for marketing in the Hispanic community is endless. We can now see how beer companies are adding lime to their products. The fast food market is another area Tex-Mex this or that. Please pass the ketchup... excuse me the salsa. Oh.. I love that Salsa music. In addition, I love that the scientist creating the holographic mobile phone is Hispanic.
The opportunity for marketing in the Hispanic community is endless. We can now see how beer companies are adding lime to their products. The fast food market is another area Tex-Mex this or that. Please pass the ketchup... excuse me the salsa. Oh.. I love that Salsa music. In addition, I love that the scientist creating the holographic mobile phone is Hispanic.
Why do we have to sit here and be invaded by low-class Hispanics? They drink and drive recklessly, without insurance or licenses, kill, sell drugs, and in general, introduce an element of lawlessness into society. We need to bar illegal immigrants from entering this country. I am tired of this fatalistic posture that we have to sit here and allow illegal entry.
Dear NBR staff,
As I said, you all looked like marionetts.
These projections are based upon static or
increasing energy supplies. We are near or
have achieved peak oil production. Modern
agriculture requires hugh energy supplies
to maintain. See the following.
http://www.fromthewilderness.com/free/ww3/100303_eating_oil.html
What drivel. Bill
What will demographics look like when US beats China and India in terms of population? What time frame are we looking at?
Shelialla: The number that we quoted showed that Hispanics will account for 25% of the US population in 2050. I believe that came from the US Census Bureau.
on the comment - Hispanics are expected to double to make up 25% - when is this projected for - is this over the next 10 years as well? Thanks.