SOURCE: Moen Incorporated

Moen Incorporated

November 03, 2014 09:54 ET

Moen Watch 2015 - Day 3: A Daily Look at Research Shaping 2015 Consumer Behavior Trends

Reinventing Aging: Leading Boomers Lifesizing as They Live

NORTH OLMSTED, OH--(Marketwired - Nov 3, 2014) - The phrase "over the hill" no longer applies to today's aging population. The group of Leading Boomers -- those born between 1946 and 1954 -- are redefining what it means to be "old," shattering traditional beliefs that you become "predictable" or "boring" once you reach a certain phase of life. Leading Boomers are trying to reinvent what it means to age by seeking the right products and experiences that enable them to live in their own home and community safely, independently and comfortably as their personal circumstances change.

"These individuals are altering society's opinion of aging in America," explains Jack Suvak, senior director of consumer and market Insights, Moen. "It doesn't sit right with Boomers to 'age in place'; instead, they will choose to 'live in place.' And as they do, they will continue to invest in their homes -- and themselves -- to ensure their happiness."

CAN'T -- OR WON'T -- STOP LEARNING
Currently, Leading Boomers are 60-68 years old, and even though they've hit the "traditional" retirement age, they show no signs of slowing down. In fact, many Boomers are pursuing continued learning to sharpen job skills and deliver personal enrichment and pleasure. As of 2012, 45 percent of adults aged 45-64 participated in adult education1 and rather than taking courses geared toward personal interests, Boomers favor enhanced workforce training. Beyond formal education, Boomers benefit from actively seeking out other learning experiences:

  • Dipping In and Out: Boomers don't plan to sit still after their retirement parties; according to a Del Webb survey of Baby Boomers2, 80 percent plan to work in some fashion after they formally retire, and many plan to toggle between work and retirement to stay relevant, active and financially sound.
  • Beyond Shuffleboard: An active, healthy lifestyle is top of mind to stay young, physically and mentally.
  • "Friending" at 60: In an effort to enrich their lives with ongoing personal growth, Boomers continue to widen their social networks as well as participate in new experiences and forge new connections.
  • Hit the Road: The desire for new experiences often leads Boomers to cities that offer a more vibrant atmosphere, outdoor events, opportunities for social activity... and leads to home remodeling3.

Regardless of their motivation, there are educational programs designed specifically to target this segment. Organized by the American Association of Community Colleges, the Plus 50 Initiative invests in community colleges to create or expand campus programs that engage the 50+ student population, with a focus on workforce training and preparation for new careers.

"The past recession caused a shift away from courses taken for personal interest and toward those that enhance professional skill sets," says Suvak. "Boomers want to remain attractive candidates for available positions, even if the end of their tenure in the workforce is 'supposed' to be near."

OPENING UP TO CONNECT
"While Leading Boomers feel the need to stay engaged with the community at large, they're also looking for new ways to stay connected within their homes, as well," describes Suvak. "Boomers consider their homes a haven, and a place where they can stay connected with their spouses and other family members, both visually and verbally. Transitions between rooms are wider, allowing for increased mobility as they continue to age. Opening up interior walls links spaces and allows individuals to feel a sense of togetherness, even when pursuing independent activities."

Their ideal living arrangements are also different than their predecessors, where senior communities or assisted living facilities were considered the inevitable final stop. "Today, Boomer empty-nesters are opting to invest in their homes to create their perfect environment that's both safe and stylish," adds Suvak. "They're seeking areas that enable independence;
the most visible result of aging-in-place design is a living space that simply feels roomier and more open."

Fifty-seven percent of Boomers plan to move from their current home for retirement; with two-thirds (69 percent) of those planning to move willing to update or renovate their next home to fit their specific wants and needs4

"Boomers like to be heard and there's never been a time when what they're saying -- or doing -- hasn't mattered," concludes Suvak. "Now that they've made it to their Golden Years, they're not willing to settle, behave a certain way or live a specific lifestyle simply because it's what society expects from them."

For more information about consumer behavior trends from Moen, visit moen.com.

About Moen
As the #1 faucet brand in North America, Moen offers a diverse selection of thoughtfully designed kitchen and bath faucets, showerheads, accessories, bath safety products and kitchen sinks for residential applications -- each delivering the best possible combination of meaningful innovation, useful features, on-trend styling and lasting value. In addition, Moen® Commercial offers superior-performing products that deliver lower lifetime costs for today's facilities.

Moen is part of Fortune Brands Home & Security, Inc. (NYSE: FBHS), which creates products and services that help fulfill the dreams of homeowners and help people feel more secure. The Company's trusted brands include Moen® faucets, Master Lock® and Sentry® Safe security products, MasterBrand® cabinets and Therma-Tru® entry door systems. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P MidCap 400 Index. For more information, please visit www.FBHS.com.

1 "Boomers Aren't Dead Yet: Insights Report October 2013," The Buntin Group 
2 "Del Webb Baby Boomer Survey," 6/11/2013
3 "Boomers Aren't Dead Yet: Insights Report October 2013," The Buntin Group 
4 Better Homes and Gardens Real Estate Baby Boomers Survey, 2014

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