You’ve Heard of KGOY, But What About AGYO?
Juli Lennett, Senior Vice President, Industry Analyst ;
I’m sure many of you have felt this same feeling as I have… I might look older on the outside, but I feel like I’m still 25 on the inside. I’m a grown woman with teenagers, but sometimes I want to act more like them than the Baby Boomer I am!
And, I think many Baby Boomers like me feel the same way.
Baby Boomers (born between 1946-1964) represent 74 million or 23 percent of the U.S. population today. When the last of us reaches retirement in 2029, let’s call it age 65, there will be 21.6 million more Americans who are 65+years old than there are today. That’s growth of 42 percent for the population of ages 65+ from 2017 to 2029. That’s a heck of a lot more people needing products and services suitable for a senior citizen’s lifestyle.
What does this have to do with KGOY or AGYO? Kids Getting Older Younger (KGOY) has been a topic in the toy industry for at least a decade. The idea is that kids are aging out of toys at younger and younger ages—that’s a topic I could debate, but we’ll save that for a later time.
AGYO is my made-up acronym for a new revolution—Adults Getting Younger Older. I think there are many of us who are going to do whatever we have to in order to delay getting old. We’re taking better care of ourselves and want to continue being active, enjoy life and, more importantly, have lots of fun in retirement.
I think the opportunity is tremendous for many industries to start thinking about products specifically for the aging Boomer population. Not only will this amazing group of people have a lot of time on their hands, but they will want to have fun, keep their brains active, and they have money to spend. What better way to spend your time as you get older than with play. Play doesn’t have to be for the young; let’s get people thinking about play for everyone, including seniors.
Here’s my call-out to the toy manufacturing community: can you start thinking about the future now? Can you think about how to better serve the Boomers with toys and games just for us? We are going to want you to think about us when you design new products, and we will want to feel special. We will not want the same toys and games that you make for an eight-year old. I’m hoping that by the time I retire, there will be a whole bunch of new toys, games, and puzzles that will interest me and my 74 million “young at heart” friends that allow us to have the fun we deserve. Who knows, you might just be able to carve a new niche for yourself. Better get crackin’.
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