An excerpt from my August 2009 newsletter:
“Everyone from Mercedes to Nordstrom to designer Vera Wang are scrambling to remake themselves for the Incredible Shrinking Boomer Economy.”
BusinessWeek, July, 23, 2009
“Retailers are scared, and for good reason. The gravy train that has made their shareholders very wealthy over the past three decades—the enormous and wealthy Baby Boomer generation—finally appears to be running out of steam.
We knew this day would come; HS Dent research has long predicted that the Baby Boomers would shift from being big spenders to big savers, just as past generations have done. With the kids grown up and out of the house and with retirement looming, most Americans spend the decade of their 50s aggressively saving for their golden years. Every dollar saved is a dollar that is not spent, and given the size of the Boomer generation, that adds up to a lot of dollars…”
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