Richard ToutounjiDirector, Meet Your Network · Connecting fitness & wellness suppliers to our marketing community.

The Future of Active Aging with Ken Baldwin | Marketing Muscle Up Podcast

24 May 2024 · 1 min

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In this podcast excerpt, the speaker challenges the misconception that older adults lack spending power, highlighting that they control roughly 75–80% of GDP. Despite this financial influence, only about 6–8% of the senior demographic engage with gyms. The speaker argues that to attract this lucrative market, businesses must develop tailored community spaces, environments, and a compelling vibe that resonate with older adults, as traditional gym models fail to draw them in.

Chapters

People think that the aging demographic don't have any money to spend. And the truth is that they control 75 to 80% of our GDP. They have money to spend and they will spend it on activities that they believe are worthwhile. The other thing is that probably only 6 to 8% of this demographic will use a gym or they haven't been to a gym. So unless we create a community, an environment, and a vibe for them to be there, they're not going to come to us. And that's where the sticking point is.