Opportunities Abound for Isolated Seniors
The Signal: It’s estimated that 22% of the total US population will be over the age of 65 in 2050, compared to 16% in 2019, driven by longer life expectancies and slowing birth rates. This is not surprising given that 10k baby boomers will turn 65 every day for the next 19 years. Baby boomers, currently between 56 and 76 years old, are the second-largest age group in the US after millennials.
The longevity revolution is a global phenomenon. Almost every country in the world is experiencing growth in the size and proportion of people over the age of 65. The number of people over age 65 globally is expected to increase by 120% over the next 30 years, from 703m in 2019 to 1.5B in 2050, according to research conducted by the UN.
Tech literacy among this cohort is surprisingly high. In the US, the percentage of adults aged 50-64 and 65+ who use the internet is 88% and 73%, respectively. On average, baby boomers spend 5 hours a day looking at their smartphones, almost the same time as millennials (5.7 hours).
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Don’t press snooze on this opportunity: sleep supplements
The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).
The alternative milk market is getting frothy
The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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