Money In A Healthy Coffee Cup
Its been said that true wealth is health
Its been said that true wealth is health. Weve all heard the saying without your health, you have nothing; and I tend to agree.
Weve learned it from our homes, schools, friends and now we see it everywhere. Were bombarded by it on television radio, the internet and signs everywhere. Its more than just a trend; its is a revolution; one worth hundreds and hundred of billions of dollars. Get the picture? Its big.
Its not hard, when you think about it for just a moment, to figure out why. Two words. Baby Boomers. Yes, weve heard that term over and over again, but the reason is this largest demographic group in the history of our planet truly drives all commerce. What they want is what gets sold. Its just that simple.
The baby boomers are now growing old. Theyre 50 to 65 years old and what you think about at that age is simple. Recovering your youth, staying healthy and fit and living longer. Thus the boom in pharmaceuticals, health food stores, althletic clubs, personal trainers, vitamins and almost anything else with the promise of extending, improving or rolling back the years. Boomers want it. Boomers get it.
Lets get back to money. We obviously have to tie in the boomers to making money because if you had even a bad product and you could manage to position yourself in front of a mega trend or revolution as the boomers drive, you could wake up and find yourself rich if youre not careful.
Enter another mega trend. This one, at first glance, youd think was mature, but if youre a marketer, and if you were paying attention, you might just spot it. One man, who is now a billion did just that.
Coffee. Its really not a Trend. Trends dont last for thousands of years after all; coffee is, . well, in most places, lets be honest, its a necessitiy, and even most marketers might think that wave, that market has long past. Once Folgers, Yuban, and some of the other people exploaded coffee into North America almost a hundred years ago, you probably would have crossed a coffee business off your list of ways to create wealth.
Tell that to Howard Shultz, the Chairman and CEO of Starbucks. Shultz can really be credited with putting specialty coffee, on the map; a non existant market 25 years ago; now valued at nearly 10 Billion dollars a year.
Shultz saw and caught a wave. On a trip to Milan Italy Shultz recognized that nearly every corner had an espresso shop and it served as more than a place for coffee, it was part of the social fabric. More importantly, Shultz recognized that, this was a trend that was not found in North America. He saw the dollars and was determined to bring it there.
His reward? Starbucks today boasts 17,133 stores in 49 countries and still counting; and Shultz personal fortune is estimated to be over $1.1 Billion dollars. Not too bad for a market that would already be thought to be mature.
Lets marry these two trends or mabye mega trends is a better word, together. Baby boomers / health/ longetivy with Coffee, and see what we get. Its what some say could be, at minimum, a micro trend, at most, a revolution, crossing two of the largest demographic, money making , groups on the planet; coffee drinkers and baby boomers.; Enter, a healthy coffee. Yes, you heard that right. Coffee thats good for you.
Put your marketing and mega trend hat on and soak that in for a second. The implications are enormous.
by: Rob Hannley
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