Cruise Demographics for the future

[EDLOS]

From Silverseas : "Our future lies with the Baby Boomers (Born between 1946 and 1964). The Boomers control 68 percent of the wealth in the U.S and in 15 years will inherit $50 Trillion" "The millennials neither have the attitude or the money".

 

On the new Silver Muse, two, yes 2 of their restaurants will be Formal Dress EVERY night of the cruise.

[Jim Avery]

unfortunately, time is not on the side of that theory. The Millenials will end up with a lot of it sooner or later. Who said that famous quote" "youth is wasted on the young"?:cool:

[sppunk]

If your future rests solely on a quickly aging/dying generation, you're business isn't long for this planet.

[OlsSalt]

Cruisers of the "future" will be 20 years older than they are today.

[cbr663]

If your future rests solely on a quickly aging/dying generation, you're business isn't long for this planet.

 

The last of the baby boomers turn 5 this year. I would hardly describe them as a quickly dying generation. Many, many years of cruising in their future yet.

[POA1]

The last of the baby boomers turn 5 this year. I would hardly describe them as a quickly dying generation. Many, many years of cruising in their future yet.

Baby Boomers were born from 1946-1964. Did you post from a time machine, because it's not 1969. ;)

[AZNative2000]

The last of the baby boomers turn 5 this year. I would hardly describe them as a quickly dying generation. Many, many years of cruising in their future yet.

 

Baby Boomers were born from 1946-1964. Did you post from a time machine, because it's not 1969. ;)

Perhaps cbr663 meant to type 53 (the age of the youngest "boomers") and not 5.

Still many years for cruising up ahead.:):)

Cheers!

[POA1]

Perhaps cbr663 meant to type 53 (the age of the youngest "boomers") and not 5.

Still many years for cruising up ahead.:):)

Cheers!

Or 52, since someone who was born late in the year hasn't turned 53 yet.

[Cruizer Bill]

Yes, Baby Boomers will be the main cruise element for the next 20 years.

[Gail & Marty sailing away]

Yes, Baby Boomers will be the main cruise element for the next 20 years.

I agree.

[Roz]

I'm a boomer, and have a reasonable expectation of living 30 more years, so I don't think Silversea is off base. Where I do think they're missing the mark is the formal dress every night, unless they're marketing to non-Americans. The majority of boomers grew up in the 60s, and formality was not what it was all about. :cool:

 

Roz

[iancal]

I believe that Silversea is absolutely correct. They are just one of many with that outlook/focus. Where we live the banks are very busy buying up private wealth management firms. They know what is coming. The numbers speak volumes about what will transpire over the next ten years.

 

We are in the middle of that age group, as are many of our friends. Retired early, financially secure, and travel frequently.

 

This is why we, DW and I, sometimes wonder about HAL. They don't seem to get it.

 

They are not alone. Sears doesn't get it either. Same with JC Penney. The US auto manufacturers do and you can see it in their offerings.

[EDLOS]

If your future rests solely on a quickly aging/dyin

 

It's the Greatest Generation that have and are dying off by the thousands daily. I know at age 82, as there are not many of my peers around. My children, born in the 50's/60's will be around for quite a long time, sailing for the next 20 to 30 years.

[Roz]

I deal a lot with demographics at my job, and the info we're getting is that the generations after the Boomers have lower life expectancies due to complications from obesity, diabetes, heart disease, drug use, etc.

 

Roz

[cbr663]

Perhaps cbr663 meant to type 53 (the age of the youngest "boomers") and not 5.

Still many years for cruising up ahead.:):)

Cheers!

 

Yes, thank-you. That is exactly what I meant. Funny thing is that I typed 53 and reviewed the post before hitting Submit Reply. When I clicked the Submit Reply button, there was a slight pause and the font size changed in the message box before the post was published. Looks like more than just the font size changed. This new format is certainly buggy. :)

[TheEmerson]

A cruise line betting the "boat" on Boomers to fuel their sales can be viewed as unwise. Boomers may have a larger percentage of the wealth, but most of that is tied into physical assets. The 2008 housing downturn did "clean house" for those that bought into the dream of a bigger and bigger McMansions on questionable financing terms or even re-fi to pull money out. Losing a large chuck of total wealth. When you add in the fact the next generation is already shunning away from ever expanding houses and suburb communities for smaller more urban locations. The idea that you can sell your house as a basis of a retirement nest egg and to fund vacations is less viable than it was 10 years ago. Also including the liquidation of pensions in the 90s and early 2000s or conversions into a 401k did reduce overall cash availability for retirement.

[Queen of DaNile]

Formal Dress every night??? I can't even........

[newcruise]

Formal Dress every night??? I can't even........

It's a return to the world of "Downton Abbey."

[EDLOS]

Formal Dress every night??? .......

 

To clarify, there are 5 other dining venues on the new Silver Muse that offer either Country Club Casual or Informal dining. The fact that HAL is just getting around to offering more than Pinnacle, Canelletto, MDR and Lido shows how far they are behind cruise dining trends. Other cruise lines have had 8/9 dining venues for years.

[iancal]

And you can scratch the Lido as an evening dining choice for us since it starts to close up at 7:30 for an 8PM hard close. At least last time we tried.

 

Cannot think of a any restaurant supposedly serving evening dinners that closes at 8PM.

 

That is exactly what I mean when we say the HAL does not appear to 'get it'. They must think everyone eats at 5 or 6 and is tucked up in bed by 8.

[POA1]

And you can scratch the Lido as an evening dining choice for us since it starts to close up at 7:30 for an 8PM hard close. At least last time we tried.

 

Cannot think of a any restaurant supposedly serving evening dinners that closes at 8PM.

 

That is exactly what I mean when we say the HAL does not appear to 'get it'. They must think everyone eats at 5 or 6 and is tucked up in bed by 8.

We never have dinner in the Lido, but I do make a habit of scanning daily programs. The Lido dinner service has been 5:30 - 8:30 and reopening for second dinner (late night snack) from 10:30 - 11:30 on every cruise we've been on going back at least 6 years.

 

If you are getting an 8 pm hard stop, I'd take it personally. ;)

[cruisemom42]

This is an interesting topic. I've always had a hard time considering myself a "boomer." I was born in 1963, so officially am part of this group, but only barely. My sister, who is a few years older, seemed to grow up in a completely different era. The 1960s, Vietnam and Watergate meant little to me, I was too young. My world view was shaped by the Carter and Reagan years -- "stagflation", Iran hostage crisis, arms race, increasing drug usage, Challenger explosion, etc.

 

At any rate, I suspect HAL is still primarily attracting the Greatest Generation (my parents age) and the older Boomers.

 

My sister and BIL, as mentioned above, are definitely Boomers and they really enjoy formal evenings. Me, on the other hand, am happy to dress nicely but NOT formally.

[OlsSalt]

Boomers, boomer parents and the rest of us rapidly aging War Babies know the sobering reality is maintaining 10 years resources that needs to be dedicated to very expensive assisted living/ memory care possibility in it's own special, don't touch, lock box.

 

Anyone waiting for their "parent's inheritance" may watch it go for assisted living/memory care institutions, in-home care, institutions, or a full time job for themselves as stay at home care takers.

 

This is easily a million dollar default Plan B that must be part of anyone's retirement projections today.

[slidergirl]

More active??

 

I'm wondering if the newest "senior citizens" are looking for more than a deck chair on a ship and enrichment lectures. I see more and more active adventure trips targeting older people. There are those commercials on TV showing retired folks road biking, great companies like AdventureWomen (who do very active adventure trips around the world for women), Road Scholar offerings of active to very challenging physical adventures, etc.

 

There is a bit of a rift now that I see - "why did they take away the library", "why did they take away the Crows Nest for a techy place, "BB Kings is too loud", "why did they do away with the bridge director", "why no ballroom dance escorts", "the Konigsdam is too modern"... Perhaps HAL needs to offer a 2-tier cruise experience: the smaller, older ships for those still needing the slower pace (and if they were lucky, weren't decimated financially by the stock market and housing crash and can afford those long cruises), and the rest of the ships updated to try to keep attracting the newest batch of Boomers...

[freestyling]

Agree with OlsSalt on the assisted living/care expenses. So fortunate to have purchased longterm healthcare insurance almost 20 years ago when my father and older brother Strongly suggested it!