Baby boomers make physical activity and recreation a business opportunity

By: ICAA

By now, every business manager knows that there are 77 million baby boomers in the United States alone, with $2 trillion in spending power. On a global scale, the health and well-being of all nations' aging populations is a hot topic for governments needing to control care costs. Baby boomers are a powerful market. Add wellness programs and physical activity to the list of product categories and services that boomers are influencing. Despite the statistics about the overall national reluctance to exercise, psychographics compiled in the newly-released research report, "Active Aging in America, Residential and Commercial Fitness, United States," boomers understand the value of physical activity and are seeking residential communities, programs and facilities to find it. "The baby boomers are aware that exercise is important, which makes it easier for architects, developers, seniors center management, fitness facilities and equipment designers. They don't have to sell boomers on the idea that exercise is good, they only need to provide the opportunities," explains Colin Milner, CEO of the International Council on Active Aging (ICAA). "Plus, the boomers are influencing their parents, which is another large market for services, particularly housing." Wellness programs? Using ICAA's "active aging" definition, these programs include fitness facilities, outdoor trails, pools, tennis and golf-all activities that can be accessed by those 50+ who move on wheels or who play a competitive game. Staying active includes computer use, brain teasers and book clubs, cooking and photography classes and the like. Whatever keeps a person engaged in life as fully as possible is active aging, and can be part of a wellness program. In fact, 95% of organizations reaching older adults said that a fitness/wellness center or physical activity program attracted new housing residents or club members. Another survey found that 88% of adults 44 to 56 years interested in active adult communities would be happier in retirement if they remained physically active (a key point, considering that the fastest growing segment of the housing industry is the 50+ market). And adults ages 55 and older are the fastest growing membership segment in health clubs. "Right now, the market for wellness facilities and programs is wide open," points out Milner. "The best companies that service that market will take over the leadership positions. It's not only architects, builders and equipment companies that are needed for the infrastructure. There is demand for landscape design, durable goods, staff training and development and similar products." Drawing upon multiple government, association and business sources, "Active Aging in America, Residential and Commercial Fitness" is the first report to compile in one place research on wellness programs and physical activity in seniors housing and retirement communities, health clubs and personal training, adult day services and corporate fitness. The report provides the size of the market, defines terms, details product offerings, consumer preferences and financing, and wraps it together with analysis and forward-looking perspective. "Active Aging in America, Residential and Commercial Fitness, United States" can be ordered from International Council on Active Aging for $799 for non-members and $559 for ICAA members. Visit the ICAA web site at www.icaa.cc or call 866-335-9777 or 604-734-4466.