I love it when my passions align.
1. MOST CLICKED: Is the wine industry forecast becoming cloudy, as “oenophile boomers” are replaced by frugal Millennials?
That’s what the Silicon Valley Bank predicts in its annual State of the Wine Industry report. (How am I not a subscriber?) Beverage World reports that the bank is placing the blame squarely on the younger generation.
“While demand for premium wine will increase this year, there are clouds on the horizon that should be considered. We believe total and per capita wine consumption in the U.S. will drop for the first time in more than 20 years due to emerging generational shifts in consumption patterns that we see accelerating in the near term,” says Rob McMillan, founder of Silicon Valley Bank’s Wine Division and author of the report.
“We believe this is the case, since there is a permanent shift from generic wine, and aging baby boomers are being replaced by frugal millennial consumers. Millennials, at this point in their development, have proven more agnostic in their choice between beer, spirits or wine compared to retiring boomers.”
Read more: http://bit.ly/20R2ijn
In loosely-related news, Nicole Stempak (a Millennial, and Associate Editor of Long-Term Living magazine) shared this public service announcement. Creating Results re-tweeted it, and we’re proud to say we’ve now brought two generations together:
Learn more about wine, wits and weight at http://bit.ly/1XdxE1G.
2. MOST SHARED: What are the top 10 senior housing trends for 2016? Per a recent Senior Housing News article, they come down to people, politics and “person-centered.”
Some of the identified trends that caught our attention:
- People Power — “The senior living and senior housing industry’s greatest challenge for 2016 lies not within bricks and mortar, nor bits and bytes, but in the flesh and blood that works on a daily basis,” writes George Yedinak. The challenge isn’t limited to senior services providers but is shared by the vendors to the industry as well. (What is your organization doing to prepare for the coming shortage of employees?)
- Politics — “In election years, senior housing issues tend to get batted around on the heels of health care, social security and other major initiatives that are impacted by the aging population of the United States. By nature of the baby boom and the ‘Silver Tsunami,’ senior housing issues will be brought to light on the political front.” Will this light be harsh or warming?
- Technology — Yedinak writes about the need for sensors, apps and other tech that delivers an improved user experience. We’d like to point out that a user’s experience with a senior living provider typically starts online, on the organization’s website. (What will you do in 2016 to provide an enhanced and motivating introduction to your brand?)
- Person-Centered Care Delivery on Demand — Per Yedinak, “The trend for on-demand services will continue to evolve during the next twelve months as core service providers such as Uber and Lyft look to grow their platforms. These services are both a help and hindrance to many operators that may want to provide maximum flexibility to their residents.”
Read more and consider all 10 trends: http://bit.ly/20R3dAl.
Then please use the comments section below to tell us what you think of the trends Yedinak identified. Is he on target? What is your organization doing in relation to these industry shifts?
3. Also of note: In 2016, people aged 65 years or more will spend an average of US$8,700 on travel; those aged 35-64 yrs are budgeting US$5,700.
This per the latest TripBarometer study published by TripAdvisor. They took a look at travel spending habits and motivations across the generations.
But before I share a link to that report, I suggest you might want to have a glass of wine in hand. Not for the memory benefits but to keep your blood pressure down when you realize that TripAdvisor has completely mislabeled the generations.
They’ve claimed that people between the ages of 35 and 64 are all “Gen X,” when someone who is part of that cohort is actually between the ages of 36 and 47. And they’ve claimed that people aged 65+ are all “Baby Boomers,” when the accepted definition of this cohort (born between 1946 and 1964) places Boomers currently between 50 and 68 years old. My parents are 83 and are not Baby Boomers, thank you very much.
With that disclaimer, here’s a snippet of the TripAdvisor infographic that looks at what 65+ SENIORS will spend and why on travel this year:
Disappointing demographics but fun infographics: http://bit.ly/1XdA7Jo
And there we have it. Wine, senior living and travel all in one post. What a great way to start the week!