How Merrill Lynch Is Planning for Its Customers to Live to 100
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.
These shifts will change the workplace environment, and also offer companies new economic opportunities. The impact of what’s known as the “longevity economy” — defined as the purchasing power of those 55 and older — is over $7.6 trillion in the United States alone. Many business leaders are recognizing that there are, and will continue to be, financial reasons to pay attention to these demographic shifts.
There is a difference, however, between simply identifying opportunities for new products or services for an older market and actually making the longevity economy part of a business strategy. How do you go from product opportunity to a change in business strategy? Through our work at the Stanford Center on Longevity, we’ve had the opportunity to work with and study companies that are doing that.
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