Using Market Trends to Start Your Business

morchadboru

When starting your own business you need to be as close to the front of a trend as possible. Here is an example
Between 1946 and 1964 1 billion babies were born across the world....today they are fondly known as the "baby boomers"
Many companies took advantage of this trend as these baby boomers drove massive multi-billion $ demand
1 billion babies drove trends as they grew: (US examples)

* food and nappies......these companies flourished,
* toys (this is when Matel grew at an enormous rate)
* music - rock'n'roll
* cars - Ford Mustang - sales rocketed
* housing market boom of 70's 80's
* advances in all kinds of home & business technology was developed to meet the demands of the baby boomers as they are the largest economic group holding most of the money

Now in 2009 the first of these babies born in 1945 is what age??? 65

Over 150,000 baby boomers around the world turn 65 every day for the next 18 years

What are they looking to deal with now......aging and end of life issues so what do you think you're business should be aimed at?????

Why do you hear and see so many ads about pensions & investments??
How many age related skincare products entered the market in 2008......over 6,000......
all these companies know something, they are taking advantage of demographics.
In Ireland it's a little different than the worldwide figures.....in fact its better.....we had a slight baby boom from 1945 to 1964 but a bigger one again between 1965 and 1984
Why are the government bricking it over future pension provision?

In Ireland today our population is: (I took this from CSO 2006 Census)
11% 65+
22% 45-64
32% 25-44

Do you start an age related business? This is very simple, our population is aging, they will want - age and end of life related products.

What are your options.........
Undertaker??
Senior Travel??
Anti-aging products????
Pensions or Investments????
Nursing home????
Geriatric Nursing???

I started my own business only a few months ago in one of these areas and its really gaining momentum.
Answer me this........am I crazy or does this make sense???? I've been talking to some friends about introducing them to my business but some think it won't work......I think it can't fail!!!

Good Luck

I think it makes logical sense.

It all depends on your channels of distribution and how you leverage what you do.

ed6hellsfresh

"I think it can't fail!!!" - really?

... good luck with that attitude, Im not sure I would be so cocky.

I'm also not too sure if you are being serious.

With these facts being so publicly available I wouldnt bet too much on your being ahead of the curve etc, I think some big companies might just have picked up on these developments before you?

I could be wrong though. Good luck.

ed6hellsfresh

And by the way, coming from an data visualisation background, I must tell you that your "graph" or whatever you might call that picture with the arrows, is a rather absurd attempt at trying to back up your argument.

Do you have any sort of scale to base them on?

Spinnaker

Valid thinking of course; looking to medium/long term trends. Leveraging published data (often free too!) from others is imperative.

Will it be successful ? Of course it will if you identify a niche, continue to monitor it and ultimately serve it well.

Re: Wellness ..I am working on launching and driving traffic to one of my own hobby (internet marketing) projects... www.visionaryebooks.com.

By the way . I've got access to a lot of recent data and research on pharma and services for the elderly in Ireland if you want to bounce anything off of me.

morchadboru

Thanks for your feedback, the graph is a depiction of what it says on the bottom...."the first time the entire baby boom generation is impacting a single market at the same time" meaning the wellness industry will be far greater than any trend this group has set before.