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Friday, March 18, 2011

60 Is The New 50! Health and Wellness #1 Priority for Americans 50+

60 Is The New 50! Health and Wellness #1  Priority for Americans 50+
The saying 'age is nothing but a number' is more true today than ever, especially among the Baby Boomer generation.  As boomers turn 50 and enter their 60s, they are carrying with them a firm belief that getting older means getting better. Many look at aging simply as another life stage filled with opportunities for reinventing themselves and experiencing new possibilities for personal growth, rather than as a signal to wind down their lives.
Changes in thinking about what it means to get old have occurred alongside a rising commitment by consumers of all ages to improve their health and pursue wellness . A February 2011 Online Consumer Survey compiled by market research firm Packaged Facts confirms the ongoing shifts in perceptions of aging on the part of 50+ consumers. Nearly 68% of 50+ consumers who are concerned with wellness have stretched their definitions of aging stating “60 is the new 50 and 70 is the new 60,”, compared to 58% of the 50+ age group as a whole.
Those pursuing wellness after 50 place a high monetary value on their personal health. They are much more likely than others their age to be willing to pay anything when it concerns their health. For marketers, this is a key element to future business initiative. According to Packaged Facts' study, Healthy 50+ Americans, healthy baby boomers are part of a major demographic trend. Between 2010 and 2015 the population of the 50+ age group as a whole is expected to grow by 11.3%, while the number of Americans younger than 50 will increase by only 2%. Translation: The 50+ age segment will account for the vast majority (73%) of population growth in the next five years.
Wellness concerns have the greatest impact on food choices of 50+ Consumers. According to Packaged Facts' survey data , more than 77% of consumers 50 and over  who claim that their daily routine is significantly affected by wellness goals  also agree that the foods they eat are determined in part by these same goals. Compared to other consumers, healthy 50+ consumers are far more likely to try to eat healthier foods (80% vs. 66%) and to limit their snacking to healthy foods. For 64% of 50+consumers living in the wellness zone the nutritional value of the food they eat is most important, compared to only 49% of other 50+ consumers.

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