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Starting an Online Business All-in-One For Dummies, 5th Edition by Joel Elad, Shannon Belew

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Chapter 4

Generating Opportunities through the Generations: Millennials, Boomers, and Beyond

IN THIS CHAPTER

check Serving the sweet over-60 crowd

check Making money with web-savvy millennials

check Appealing to the next generation of young buyers

In this chapter, we take a look at carving out niche markets around segments of the population that are grouped together based on age, or the time period in which these consumers were born. Finding a small but lucrative subset of a larger market is the goal of any niche business. Some of the more popular niches that continue to withstand the test of time involve whole generations of a consumer base, including baby boomers, millennials, and Generation Z — and each of these categories keeps spinning out even smaller niche opportunities within the niche!

A record number of people were born between 1946 and 1964, and they eventually received the baby boomer label. The first generation large enough to have significant (and identifiable) influence on jobs, homes, and the economy, baby boomers at one time represented one of the fastest-growing markets. Not to mention, they have enjoyed an overall level of prosperity that has long made them a viable customer for ...

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