Hotel Spa: Baby Boomers Turn 60! The Perfect Storm
By Peter Anderson Founder, Anderson & Associates | January 12, 2010
The spa industry is sitting in the vortex of a perfect storm...
The first front in this storm system is an aging population who have the desire and means (and as they retire, the time) to do what it takes to "stay forever young", as evidenced by the fact that of that 60 is the new 40...
The second front of the system is that many are defining youth with matrices that only start with external looks and extend well into more complex issues of quality of life, disease prevention and psychological well-being. This expansion of awareness directly expands opportunities for spa services.
The third front of the perfect storm is related to the American medical system. Our health care system is stretched to its limits and in some cases failing; in response to the medical system's short comings (and their own aging bodies) many individuals are investigating alternative self care options. To that end, spa regimes, meditation, nutritional supplements, and lifestyle classes are some of the ways that consumers are supplanting their allopathic care.
The last component to complete the storm is the fact that boomers are savvy, result-driven consumers who collect experiences the way their parents collected possessions. They are not constrained by the pack-mentality of previous generations and are willing to try new and adventurous things... especially in the name of vanity, health and wellness.
Issues germane to the health, well being and vanity of an older population have saturated our media, and it is reasonable that spa treatments, services and even the facility configurations continue to address and acknowledge these trends. This is not to advocate that all spas be configured to reflect an amenity at an assisted living facility, but rather it is important to point out that if the front end of the boomers are 60 the tail-end of the boomers are 42. This means that there is an 18 year window of opportunity related to this middle aged (and beyond) demographic. When the youngest boomers are approaching their 60th birthdays the front end of the demographic will be just shy of 80! This kind of trend provides the ability to address immediate as well as long-term solutions. This article is designed to identify the dynamic dance of demographic trends and spa related opportunities. Some of these issues may require significant capital, while others may be addressed with a bit of sensitivity and creativity.