When thinking about the needs of Boomers and Matures, whether as members of these groups or as those who serve them (or both!), products and services for children may not even be on our radar. Yet this time of year especially, grandparents and even later-life parents are spending more time and money on children than ever before.
A recent MetLife survey found that grandparents are spending an average of $8,661 annually on grandchildren, a number likely to increase as younger Boomers become grandparents. Consider this in light of the Boomer Values Realignment Survey, that found a “a big shift from consumerism to relationships” in Boomer focus.
If you already run a business, targeting your existing products and services to Boomers and Matures is only part of the picture. Transcending this and focusing on ways to help grandparents spend more quality time strengthening their relationships with their grandchildren and children has visionary potential for you and for the people you serve.
If you are a grandparent and an entrepreneur (or just thinking about starting your own business), this trend provides you an opportunity to look at your own needs and desires and align them with what others in your tribe are seeking.
Just as Boomers are changing the way we all age, they are likely to redefine the role grandparents have played in the past. By anticipating the needs of this reimagining—especially by drawing on your own needs and desires for the present and future—you can create a sustainable business and lifestyle in which what matters most to you in life is integral to making a living.
The age of the Grannypreneur is dawning, and we have an opportunity to lead the way.