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Word Count: 845
Gray Market The old image of elderly person on being one who is in firm stays at home and leads a thoroughly depressing life is rapidly changing as an image of the 21st century As our population ages and people are living longer and healthier lives the game is rapidly changing The newer and more accurate image of an older person who is active interested in what life has to offer and is enthusiastic consumer with the means and willingness to pay By the year 2010 one of every seven Americans will be 65 or older according to the US Bureau of Labor Statistic estimation By 2030 20 percent of the US population will be elderly Older market control 50 percent of discretionary income and spend more than 60 million The mature market is the second fastest growing market segment in the United States lagging only behind the baby boomers Such dramatic growth can largely be explained by healthier lifestyle improve medical diagnoses and treatment and the resulting increase in life expectancy Most seniors no longer have the economic burden and are spending more The economic health of older consumers is good and getting better Some of the important areas that stand to benefit from the surging gray market include exercise facilities cruises and tourism cosmetic surgery and skin treatments and how-to books and unversities courses that offer enhanced learning opportunities Perceived Age You are Only as Old as you Feel Market researchers who work with older consumers often comment that people think of themselves as being 10 - 15 years younger that they actually are In fact research confirms the popular wisdom that age is more of a state of mind than body Many marketers emphasize product benbefits rather than age-appropriateness in marketing campaigns because many consumers will not relate to products targeted to their chronological age Selling to Seniors Most older people lead more active
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