Businesses involved in improving quality of life have been fairly successful in their endeavors in creating a permanent market as well as prospective ones. What started out as a trend-setting fitness movement in the 1980s has now become a full-pledged industry that focuses on wellness, looking good, being healthy, delaying effects of age, as well as fighting diseases. The wellness industry is not expected to slow down anytime soon especially with the aging of the so called “baby boomers” who forms a large chunk of the population.
This particular demographic group in the US has managed to maintain their health and stay in the job market longer than other identified generations. This is the same group that is expected to make wellness businesses continue to flourish as they come closer to retirement. With their acquired wealth and privilege, they are also seen as the most likely customers for the assisted living industry.
Because people strive to work to enjoy the fruits of their labor, the younger group of employed adults will not hesitate to spend money on gyms, weight-loss clinics, and grooming salons. The middle-aged group will most likely patronize spas, cosmetic surgery facilities, and health programs designed to prevent or address specific health conditions. The senior-aged group will be setting their sights on nursing homes offering luxury hotel-like amenities instead of the typical elder facility. These people do not only expect to live up to their twilight years but to live them well while having access to comfort and entertainment.
Even with the admittedly difficult economic situation of today, it is still evident that pursuing a quality life remains on the agenda of many people. Business opportunity lies in these individuals’ pursuit for comfort. Business owners need to find a way to be part of the spending schedule even among those who have to scale down considerably on their “want” expenses.