Nowadays we have started to categorize groups in new ways, such as baby boomers for those born following the Second World War, generation Xers, their offspring, and millennials for people coming of age in the past decade. But a new word has entered our dictionary: “zoomers.”
That name originally first was used in Toronto and it now has gained wide acceptance. It refers to those who are over 65 years of age, well-to-do, and want to live “the good life.”
Zoomers are profoundly affecting many aspects of our economy, retailers, home builders, and many others, something that certainly all must bear in mind.
Zoomers and baby boomers, too, are downsizing as they move to smaller houses now that their children are grown up and moved out; though not all of them choose to conform to that shift.
A great number want accommodations that provide for adult children to come to dinner in a proper dining room, or bedrooms for overnight stays if they are located in another city.
Zoomers usually derive a great deal of pleasure from their families, something that becomes of paramount importance now that their everyday life no longer consists of a 9-to-5 working day.
Aside from wanting a home adequate to encompass adult children or even grandchildren, zoomers want many so-called luxuries. Their attitude is, "If not now, when?"
Zoomers probably do not seem to mind city noise or even traffic.
They would not be concerned about their children crossing busy streets.
Thus, most would opt for an urban life rather than a more rural, lonely area. Also, the National Post has written that in any event they perhaps would be listening to music on their iPhone, while text messaging on their BlackBerry.
Luxury condominiums catering to zoomers frequently have amenities that were not in their former residences.
Included may be swimming pools, huge movie-size television screens, air conditioning, and to have within a full-service restaurant. Construction companies and retailers should become aware of these trends.
In Canada, according to the latest statistics, there are about 15 million boomers and zoomers. Soon the former will enter the latter stage. They represent nearly half of our population and own approximately 75 per cent of our wealth. They have enormous disposable income, considering that their everyday expenses are considerably below those with younger families.
Everyone must take into consideration this group, as they may override in importance any other factor. It appears then that zoomers very well may provide the wellspring that will enable our economy to surmount any slowdown in general consumer spending. Those who are aware of this should be able to capitalize on it handsomely.