Make healthy products (but not too edgy) with functional benefits for baby boomers
Contributing writer ED FINKEL visited Tetra Pak’s U.S. headquarters to hear first-hand what the packaging company has to say about the likes and dislikes of baby boomers.
Brand and retail marketers have tended in recent years to focus on the burgeoning purchasing power of millennials, yet the population over 60 is growing even faster worldwide and maintains the highest share of buying power. Companies that make dairy and beverage products would do well to target seniors’ needs and desires with packaging and product formulation, according to a white paper released today by Tetra Pak Inc.
The paper cites Euromonitor/AT Kearney data showing that the share of income for U.S. seniors 60 and older will grow from 16% in 2005 to 24% in 2020. And according to the United Nations, 8% of the world’s population is aged 60 and above, but that will grow to 22% by 2050.