Changing Demographics

Gray Market

Michelle Nason

Summary by Lalania Balas

Michelle Nason addressed the historic movement that is about to come.  Soon a record setting number of the population will be entering into the so-called gray market.  Baby Boomers will be entering into this market, bringing their unique characteristics and preferences with them.  Marketers will have to react to this tremendous market share with products and services that satisfy their needs.  With members of the market including celebrities such as Tina Turner, Paul McCartney and Elton John, this generation demands attention. 

Currently Levi Strauss has started to target the gray market with apparel that is sized to fit the aging body.  However most companies are still lagging.  For instance, J.C. Penney’s catalog has more health care products in their special needs catalog than apparel.  Over the next few years a huge market share will be opening up within this category.  Those in the fashion industry who address the needs of this market will be graciously rewarded with happy customers and high profits.