The world is getting older. Children born in the developed world today can anticipate living to 100 and beyond, and those of us arriving at old age in good health stand a very good chance of living into our 90s.
How Merrill Lynch Is Planning for Its Customers to Live to 100
It’s a shift that many companies will need to make in the coming years.
March 04, 2019
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Summary.
Nearly everywhere the population is getting older, and these swelling ranks of 55 and older people represent a massive and important market opportunity. Their purchasing power is already $7.6 trillion in the US alone. But there’s a big gap between seeing an opportunity and integrating into a business strategy. One company that has begun the process of integrating the longevity economy is the financial firm Merrill Lynch, which invested deeply in research to understand the longevity market and roll-out programs and products that address the needs of an older demographic. Their programs cover seven major areas in which life priorities change in retirement: Family, work, health, home, giving, leisure, and, of course, finances — and they’ve led to improved customer satisfaction, acquisition, and retention. Many more companies will need to integrate longevity into their strategies, and soon.