40. How do you suppose the demographics of an aging population of “Baby Boomers” in the United States will affect the demand for milk? Justify your answer. According to Investopedia.com baby boomers are people born between 1946 and 1964. I think that an aging population of “Baby Boomers” in the United States will shift the demand curve to the left. The reason for it is that during this period the amount of children who needed milk dramatically increased. It, in turn, led to increase of amount of needed milk at any price and as a result shifter demanded curve to the right. When this large population became older the consumption of milk decreased since adults do not consume so much milk and because not all of them had their own children, meaning
Before we can get into the juicy information pertaining to the fascinating period of Baby Boomers, we must first take a quick glance at what was happening before this occurred.The main event that came to a conclusion that had a significance to the world and is a recent and relevant topic to the Baby Boomer period was the end of World War II.World War II had been going on since 1939 when the Nazi army and the Soviet Union united invaded Poland, resulting in the British and French declaring war on Germany.The allies allow Hitler to commit illegal actions without deciding to go after him(they just sat and watch him invade and grow as the years went by).It seems over for the Allies until the Japanese decided to obliterate Pearl Harbor December
When boomer demand slams into the market place, prices soar (until the fad passes). Nothing stops the baby-boomer. There is somewhat of a bright side to all the spending and boomer traffic. Being just a few steps ahead of the boomer can make an individual very well off if you know which way they are headed. Boomers have always acted this way. Still the largest generation in the United States has been shifting markets ever since the diaper and baby food industries in the late 1940's (Geoffery 59-64). Construction of elementary facilities exploded for municipal budgetsLos Angeles was spending $1 million a week on new schools in the mid-1960's (Geoffery 59-64). After that happened, the boomer moved on abandoning a huge amount of those facilities. When younger boomers wanted cars, the Mustang and Camaro were considered a phenomenon and as the boomer herd passed so did the sales. Suburban homes in beautiful areas were next since boomers were doing the family thing. Prices on suburban homes exploded in the 80's and as usual; when the boomer left, so did the sales.
Baby Boomers constructed America in the 1960s, and soon the Millennials will get their chance. Baby boomers are currently the largest generation of active workers. Research has shown that boomers identify their strengths as organizational memory, optimism, and their willingness to work long hours. Many earned, many still earn high incomes. The millennial generation, born between 1980 and 2000, are starting to enter businesses in large numbers. However, they do not have the same views and values when working compared to the Boomers. This Boomers grew up in organizations with large corporate hierarchies, and Millennials grew up with management structures and teamwork based job roles. By 2025, millennials will make up the 75% of the workforce replacing the Boomer generation. But, are they ready for the workforce and is the workforce ready for them? I think they would be ready if businesses are able to change and adapt towards them.
A reason for why there is a higher proportion of elders in rural communities could come from the fact that people of younger generations tend to move from rural to more metropolitan areas once they get older in order to get better education and jobs. Due to the fact that more and more of the Baby Boomer generation are reaching the age of 65 years, if there are elders staying in rural communities rather than leaving like young adults, then there is bound to be an increase in the percentage of elders living in rural communities. Another factor that could account to the higher proportion could be retirement destinations. According to the Cornell Chronicle, by Cornell University, “More than 10 percent of Americans over age 60 relocated, mostly
Born between 1946 and 1964, HBCU alumni ages 51 – 170 are classified as Baby Boomers (Fogg, 2008). During this time period, there was a boost in the U.S. birthrate, and according to History.com, this baby boom is arguably due to Americans desiring to get back to normalcy after 16 years of war and depression. Because people are living longer and the birth rate is declining in America, Baby Boomers are the fastest growing demographic (Jacobson, 2015). According to Jamie Carracher, a digital health strategist, approximately 80 million Baby Boomers became senior citizens as they turned 65 in 2011. This generation now accounts for 76.3 million people and close to 24 percent of the U.S. population. According to Fogg (2008) in the article “When Generations
It has been known for a long time that baby boomers learn better and are more likely to respond to interactive activities, like group activities and well-organized training, also more easier ways to access detailed information. Furthermore, they need to be given activities to complete throughout the training. Baby boomers also believe that training would benefit them personally so you need to be prepared to make sure they get the feeling that the training will benefit them in any kind of way. In the other hand, GenXers do not do their best learning in hand on environment. Genxers are very motivated people who believe training will increase their employability. They like self-direct learning, more visual stimulation with few words, including
In this article the authors assess the limitations of two generations of nurses the baby boomers (nurses from 1943 to 1960) and the generation X (nurses from 1961to 1981) in relation with work roles and work values. In addition, they mention that in the next decades the healthcare system will be facing bigger problems with retention of nurses, turnover, and recruitment. The healthcare organizations are working diligent on creating attractive nursing programs to attract nurses into these programs, since now nurse’s search for marketability, experience, and credential. In conclusion, the researchers found that generation X of nurses do not have much personal value for their work places, and the baby boomers have personal value for their workplace.
Every generation is separated into groups. Within a certain set of time, a significant amount of information can develop or change. A few years after the Great Depression the generation of Baby Boomers began ranging from 1946 to 1964. There were numerous inventions and improvements such as: cars, cell phones, and computers. Through the years 1996 to 2010 Generation Z stepped into the spotlight. Even though, start to finish there is a 64-year difference between the oldest and youngest of these two generations, there is something that holds them together, while at the same time makes them each unique. Between the generations there are the differences including lifestyles, forms of technology, how their health was taken care of, and which issues were more prominent yet having some similarities.
When they saw that home delivered milk was coming to an end they changed their operations. They saw that trends during the 60’s were changing the way people shopped. Many households were becoming 2 income families and this meant there was less time for errands. People wanted things quickly and conveniently. There was also a growth of supermarkets which would certainly be taking away their milk
Over the years, there have been major shifts within the United States in regards to its population. Statisticians have estimated that 20% of the population will be 65 years of age and older. There is an even
From 1970 to the year 2000, the world's over-60 population is projected to increase by more than 90 percent" . This is an astonishing number, seeming how the total population was predicted to grow by less than 75 percent . "The most prominent feature of the looming shift in the composition of the working-age population is, of course, its increasing age" . It is hard to say what will happen when suddenly there will be an abundance of older people who are preparing to retire.
Milk will segment the marketplace more towards achievers who are goal-oriented and focused on their careers, and those who're seeking variety within the milk sector.
In most cases, dairy milk has always been the go-to option in our fridges since we were children. Even today, dairy milk is the leading milk product, and it accounts for the majority of milk drank in the United States. However, these days new alternatives have risen such as soy milk or almond milk to name a few. In fact, a Mintel research study done in 2015 found that non-dairy milk purchases in the United States had increased by 9% just that year (Rowland, 2017). This showed a drastic change in consumer habits in America because the American milk market had traditionally been dominated by dairy. To put things in perspective, that same Mintel study found that almost half, 49%, of Americans drink non-dairy milk (US, n.d). This massive increase in recent non-dairy milk consumption reflects a massive increase in accessibility to non-dairy milk products. Just ten years ago access to non-dairy products was far more limited than it is today, and the non-dairy products available were undesirable. Because of advances in food science, there are not only more non-dairy
The changing demographics will have a major impact on the consumption patterns as the world`s population ages. For example, the age cohort people older than 65 will double to 1 billion over the next 20 years (United Nations
The term ‘Baby Boomers’ refers to the generation born directly after the second world war; between years 1946 and 1965. By 1964, there were over 76 million Baby Boomers in the United States alone, making them the largest generation in history. Today, those who make up the first wave of Baby Boomers will be over 60 years old - many of them already retired; while the remainder of the generation will be preparing for retirement (WJ Schroer, s.a.).